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SANTA CRUZ RENTAL MARKET 5TH MOST EXPENSIVE RENT IN THE NATION!

 In a recent report about the Santa Cruz Rental Market it was stated that Santa Cruz has the 5th most expensive rents in the Nation!  I know that we have a strong rental market but I was surprised at this.  According to the study by the National Low Income Housing Coalition to afford an average rent 2 bedroom apartment a Santa Cruz worker must earn $30.58 per hour.

The most expensive metropolitan area rental market, according to the report, is Stamford, Conn. A renter must earn $32.75 an hour to afford a two-bedroom apartment there. The San Francisco rental market ranked second at $31.88 per hour, followed by Honolulu rental market at $31.37, Westchester County, N.Y., at $30.96,  followed by Santa Cruz in 5th place at $30.58 per hour.

With these type of rents and home ownership affordability being the best in decades it is time to take a serious look at buying a home.  Low interest rates and negotiating buyer concessions are really helping people get into homes they could not have dreamed of owning a few years ago. 

Are you a first time buyer considering a home purchase?  Check out my article Tips for a First Time Home Buyer  and Santa Cruz First Time Buyer Programs

Looking to invest in rental property in Santa Cruz?  Go here to see some of the Santa Cruz investment properties for sale.  Contact me for the best Santa Cruz investment property deals.