Connecticut Real Estate News
Saturday, April 24, 2010
Metro Stamford-Norwalk area rental prices are down
Obviously it is expensive to live here in Fairfield County Connecticut, but I was surprised to hear this morning that according to a report by the National Low Income Housing Coalition the Stamford-Norwalk Connecticut area is the most expensive metro area nationwide for renters. The results of the report were published locally this week in the Commercial Record and the Stamford Advocate newspapers.
The article peeked my interest so I looked at the data in the multiple listing system for what I consider to be the Stamford-Norwalk Metro area: Stamford, Norwalk, Darien, Westport, New Canaan and Wilton. In the first quarter of 2010, 226 2 bedroom rentals transacted in an average of 72 days. The average rental price was $1784/month. In the first quarter of 2009, 167 rentals transacted in an average of 71 days. The average rental price was $1885. The good news for tenants is that the rental price of a 2 bedroom in our area is coming down.
According to the report in order to afford a two bedroom unit in our the Stamford - Norwalk metro area a tenant needs to earn $72,000 per year or $34.62 per hour. The second most expensive area for renters is San Francisco.
To see all the currently available property rentals in Stamford, Norwalk and the surrounding area go to rentals.realtyquest.com or call RealtyQuest at 203-656-4993.
The article peeked my interest so I looked at the data in the multiple listing system for what I consider to be the Stamford-Norwalk Metro area: Stamford, Norwalk, Darien, Westport, New Canaan and Wilton. In the first quarter of 2010, 226 2 bedroom rentals transacted in an average of 72 days. The average rental price was $1784/month. In the first quarter of 2009, 167 rentals transacted in an average of 71 days. The average rental price was $1885. The good news for tenants is that the rental price of a 2 bedroom in our area is coming down.
According to the report in order to afford a two bedroom unit in our the Stamford - Norwalk metro area a tenant needs to earn $72,000 per year or $34.62 per hour. The second most expensive area for renters is San Francisco.
To see all the currently available property rentals in Stamford, Norwalk and the surrounding area go to rentals.realtyquest.com or call RealtyQuest at 203-656-4993.
Labels: Connecticut, CT Real Estate, Norwalk, Rentals, Stamford
posted by David Epprecht at 9:55 AM
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