The Real Deal: Connecticut rental market shows steady growth
The Connecticut rental market is showing steady growth across the state.
Caleb Silver, with Invesopedia, says there has been a steady rise in rental prices throughout Connecticut.
"We have seen a steady rise in rental prices all throughout Connecticut pretty much all year long and another increase in the month of June but also the year over,” says Silver.
Silver says rental prices are up in Hartford County by 6.3%, New Haven at 4.6%, and Fairfield County at a 1.5% rise.
The demand for rents is skyrocketing - and since the buying market is red hot, those who recently sold a home are also turning to renting.
Silver says high interest rates and a low supply of rental properties has made the market red hot.