.png)
Who do you know who's still renting?
Posted by Solveig Schroerlucke on
It's no secret that rents, especially in the Madison area, are skyrocketing. The post-pandemic environment that created rapid inflation causing interest rates on loans of all kinds to rise, caused the same rise in rental rates. The average rent for a 2-Bedroom apartment in Madison in 2023 is $1,378/month, up almost 10% from only 1 year ago. The Madison rental market is now more expensive than 93% of other markets.
Anecdotally, almost all of the clients who reached out to buy this year that were previously renting were doing so because their rents increased - by as much as $200 or more per month than the prior year.
When people ask, "Is now a good time to buy?," the answer is "If you're currently renting, yes. 100%." Getting into the market as soon…
369 Views, 0 Comments