The biggest dissappointment many Tucson landlords have been faced with is "reduced rent". There has been an increase in the number of rentals on the market leading to longer days on the market coupled with many of the units being rented offered at lower price points.
Take a look at the number of Active units on the market - 1,150 compared to how many were rented - only 387!
Here is a summary from the Tucson Association of Realtors:
Active listings - 1,150
Number of properties rented - 387
Average monthly rent for Apartments - $571.
Average monthly rent for Condominiums - $825
Average monthly rent for Mobile Homes - $635
Average monthly rent for Manufactured Single Family Residence - $700
Average monthly rent for Patio Homes - $1,350
Average monthly rent for Plex’s - $649
Average monthly rent for Single Family Residence’s - $1,193
Average monthly rent for Townhomes - $1,059
Average Days on Market - 55
This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .