In the general Poconos region, rents are increasing a little bit each month but, the supply is also increasing. Real estate investors are buying Poconos rental foreclosures and renovating them for use as rentals. Those trying to sell, can not so they are renting them out. Thus, an increase in inventory to match demand.
As we are seeing the demand for rentals increase, the supply is increasing by just as much – which in turn, allows for only a slight increase in rent. The nearby NJ rental market is a good indication of what will happen next for Poconos House rentals. We often loo to what is happening in cities like Hackettstown when talking about what is going to happen in The Poconos rental market.
Stroudsburg and East Stroudsburg have done a lot with the downtown area in the past eight years. Especially with the addition of many new shops, restaurants, art galleries and nightclubs. This change makes renting near the downtown areas much more desirable. There are also more and upgraded rentals being added in these areas.
Since home prices have settled from their highs, rent prices have been rising slightly. Rental properties are now back in fashion again.
Below are homes for rent on a yearly basis. If you would like short term rentals visit PoconosRentals.net