Rental market is looking up

DELAWARE – Dave Schmidt says if you’re looking to rent the market is in your favor right now.

He says rentals are not as aggressively priced as they were a year ago coming out of the pandemic. Schmidt says a 2 bedroom rental averages at $1,000, compared to owning a 2 bedroom home at a mortgage of $1,200. After all your bills are put together, you’re looking at about $1,500.

“Kind of in a difficult economic time, it might just make better sense for some of these people to rent where you’re saving an additional $500-$600-$700 dollars a month from renting,” Dave Schmidt, Homebuyer Delmarva Dave says.

Schmidt adds that you should make sure you’re doing your due diligence when looking for a rental as rental scams are on the rise.