Upper Valley Housing Market
Are you looking for affordable rental housing in the Upper Valley? It’s not easy! Learn to Navigate the Upper Valley Housing Market.
While the immediate Upper Valley may be home to some 10,000 rental units, we only average a 1-3% vacancy at any given time of the year, especially around June. This short supply of rental housing drives up rent rates, making it really tough to find affordable rentals.
Base rents run from $1000-$1800/month for studio, one bedroom, and two bedroom apartments. And if you’re expected to pay for utilities, including heat, you are well advised to research average costs associated with the unit you are considering so you’re not taken by surprise come winter.
If you are planning to be in a rental for at least 3 years, then it might make sense to consider purchasing a condo or home.
Mortgage interest rates remain low, and if you have a decent credit score you might be able to convert your rent payment to a mortgage payment. The Upper Valley does have a modest supply of decently priced condominiums to support this scenario. However, it is important to make sure the condominium association that you’re considering is well managed with sufficient financial reserves to cover capitol expenses.
If this blog has raised questions about renting vs buying, we invite you to attend one of two upcoming events to learn more. See the attached flier for details.