Often, I get asked, "What are rents like these days?" Competitive is usually my answer.
Here is a graph outling the average monthly rent for several areas around Tucson:
As you can see, the rents are not as diverse as they have been in the past. There are many reasons why rents have stabled out in Tucson such as home prices are low and many renters find that a mortgage is cheaper than renting in some cases, there are a lot of rentals on the market making pricing more competitive, etc.
Recently in Tucson, high rents are becoming a thing of the past - many owners who insist on keeping their rental rates high find that the home remains vacant because tenants find comparable homes at cheaper prices. As a result, they have a choice - either keep it vacant or drop the rent price.
If you are an investor, price your rent right. The best thing you can do is, find a good property manager to help rent your home, one who knows the market and who will be able to help you fairly price the rent, and one who will find a good tenant who will take care of your investment.
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 .