In the general Poconos region, rents are increasing a little bit each month because the supply is steady with no new units being built. Now that the depression is over, there are no new ones coming on the market.
Real estate investors had been buying Poconos rental foreclosures and renovating them for use as rentals. This has slowed. There are fewer owners renting out hard to sell properties.
As we are seeing 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 look to what is happening in cities like Hackettstown, Morristown and Parsippany when talking about what is going to happen next 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. Living in the country in the Reeders PA, Brodheadsville, PA or Cherry Valley area are options for year around renters.
Since home prices have settled, rent prices have been rising slightly. Rental properties are now back in fashion tow own again.
Below, are houses, mobile homes, condos and apartments for rent on a yearly basis in the general Southern Poconos area …. around Stroudsburg, East Stroudsburg, Tannersville, Mt Pocono, Tobyhanna and Cresco and Mountainhome. If you would like short term rentals visit PoconosRentals.net
In the general Poconos region, rents are increasing a little bit each month because the supply is steady with no new units being built. Now that the depression is over, there are no new ones coming on the market.
