Is the single family home rental market in Rochester very healthy?

Asked by Ryan Staake, Brooklyn, NY Sat Jan 23, 2010

Is the single family home rental market in Rochester very healthy? I'm looking to purchase a small, cheap home as a longterm investment, and offset mortgage payments with tenant rent. I'm a first time buyer, remote, in my mid-20s. thanks for any insight!

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Derrick Guev…, Agent, Rochester, MN
Sun Jul 4, 2010
Interest rates are at record lows and Rochester is still a very affordable market for homes compared to many metropolitan areas. There are good employment opportunities which keep our economy relatively stable and strong. I appreciate your interest and would look forward to helping you with anything else I can. (507) 272-8018 derrick@counselorrealty.com http://www.derrick.counselorrealty.com
0 votes
Sue Zeigler, Agent, Rochester, MN
Mon Feb 22, 2010
Hi Ryan,

Thanks for your inquiry. The rental market is quite strong with residents of Mayo coming and going. There are duplexes and single famiy homes that would have great arrangements for a tenant to help pay for the mortgage payment.

I would welcome the opportunity to assist you further - please call me at 507-259-7938.
0 votes
David Birka, Agent, Rochester, MN
Wed Feb 17, 2010
January 1st signaled the start of another busy real estate season Rochester. I listed a home a couple of weeks ago and it was sold after 9 days on the market. The average days on market for Rochester is 108 days for single family homes. The Home Buyer tax Credit would allow you to benefit from an $8,000 incentive if your offer is accepted before April 30, 2010. If you are a current home owner, you may qualify for a $6,500 tax credit. You can save searches and receive daily updates for homes that match your search criteria at http://www.davidbirka.com. You may contact me at 507-250-1000, david@davidbirka.com
Web Reference:  http://www.davidbirka.com
0 votes
Brad Anderson, Agent, Maple Grove, MN
Sun Jan 24, 2010
Ryan, after a quick look, it appears to be an OK market. Spring/Summer is the best time for rentals. The price ranges from 750-1050 for 2,3 bedroom homes in that area. Let me know if you have any more questions.
0 votes
Ryan Staake, , Brooklyn, NY
Sun Jan 24, 2010
Yes, Rochester, Minnesota. I live in Brooklyn, but spend a good amount of time out there. thanks
0 votes
Brad Anderson, Agent, Maple Grove, MN
Sun Jan 24, 2010
Ryan, are you talking about rochester Minnesota?
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more