Silver Spring Md. - Rental Market report - Sept 2009

This market report is to cover RENTALS in the Silver Spring Md. 20906 zip code, except for those in the senior citizen community of Leisure World.  A report on conditions in Leisure World can be found in a separate post.  At the time of this report (9/14/09) there are 41 units available for rent in the area cover by this report.  Since Aug 1^st  there has been a total of 21 leases signed to rent homes in the report area, with the average time on market being just over two months (47 days).  Some of the homes are condo, townhouses, and couple of detached home too.

One Bedroom

Currently there is only one one-bedroom unit on the market for rent.  This condo is listed for $1000/month and has been on the market for less than two weeks (11 days).  At this time there are no applications being considered by landlords to rent one-bedroom units in the report area.  Since Aug 1^st no one-bedroom unit has had a lease signed on it.

 Two bedroom

Currently there are nine two-bedroom units on the market for rent.  The least expensive unit is for $1000/month while the most expensive is $1500/month, with the average being $1347/month.  While the most recent rental has been on the market for less than one month (20 days) the longest has been on the market for just over four months (121 days), with the average being nearly two months (58 days).

At this time there are applications on three units being considered by landlords to rent two-bedroom units in the report area.  The least expensive of these home was listed for $1195, the most expensive being $2000/month, with the average being $1532/month.  The days on market ranged from three months (90 days) to just over five months (152 days), with the average being nearly three months (111 days).

Since Aug 1^st, two two-bedroom units have had leases signed in the report area.  The homes were rented for  $1350 and $1395 / month.  The days on market were 21 and 36, thus the average was less than one month (29 days).

Three Bedroom

Currently there are 17 three-bedroom units on the market for rent.  The least expensive unit is for $1375/month while the most expensive is $2250/month, with the average being $1788/month.  While the most recent one has been on the market for less than a week (5 days) the longest has been on the market for just over four months (121 days), with the average being over a month (41 days).

At this time there are applications on five units being considered by landlords to rent three-bedroom units in the report area.  The least expensive of these home was listed for $1399, the most expensive being $1995/month, with the average being $1660/month.  The days on market ranged from less than two weeks (13 days) to just over three months (91 days), with the average being just over one month (41 days).

Since Aug 1^st nine three-bedroom units have has leases signed in the report area..  The least expensive of these home was rented for $1590, the most expensive being $2250/month, with the average being $1875/month.  The days on market ranged from than two weeks (14 days) to just over three months (92 days), with the average being just over one month (35 days)

Four Bedrooms

Currently there are ten four-bedroom units on the market for rent.  The least expensive unit is for $1900/month while the most expensive is $2500/month, with the average being $2188/month.  While the most recent one has been on the market for less than a month (20 days) the longest has been on the market for just over five months (151 days), with the average being nearly two months (59 days).

At this time there are applications on two units being considered by landlords to rent four-bedroom units in the report area.  The least expensive of these home was listed for $2300, the most expensive being $2650/month, with the average being $2475/month.  The days on market ranged from a little over one  month (42 days) to just over three months (92 days), with the average being just over two month (67 days).

Since Aug 1^st eight four-bedroom units have has leases signed in the report area..  The least expensive of these home was rented for $1500, the most expensive being $2250/month, with the average being $1912/month.  The days on market ranged from than one week (2 days) to slightly over four months (138 days), with the average being nearly two months (59 days).

Five Bedrooms

Currently there are four five-bedroom units on the market for rent.  The least expensive unit is for $1600/month while the most expensive is $3050/month, with the average being $2438/month.  While the most recent one has been on the market for less than a month (20 days) the longest has been on the market for just over one months (42 days), with the average being one month (30 days).

At this time there are no applications being considered by landlords to rent five-bedroom units in the report area.

Since Aug 1^st two five-bedroom units have has leases signed in the report area..  The least expensive of these home was rented for $2000, the most expensive being $2100/month, with the average being $2050/month.  The days on market ranged from less than one month (22 days) to just over three months (97 days), with the average being two months (60 days).

If you or anyone you know would be interested in one of these homes, or looking for more detail on this set of homes, please get in contact with me.