I get an a lot of requests from people that are looking for a rental. Keep in mind, a lot of the properties that you see listed online my website are typically for sale with an occasional rental. I don't get an ongoing notice of properties that will be coming available ahead of time in several months. I am only aware of what is currently offered through the multiple listing service. Very few if any properties with an agent would consider a short term rentals or a month a month.
It it standard pratice by most landlords to do a credit check, collect information about employment, salary as well as contact information for your current landlord. It is an active market for rentals. On average between 2010-2016, on average 609 properties were leased.; that works out to about 12 new leases being signed every week. As you can see below, it is a landlords market.
| Year | Average Rent | Median Rent |
| 2010 | $1390 | $1250 |
| 2011 | $1458 | $1250 |
| 2012 | $1497 | $1350 |
| 2013 | $1546 | $1400 |
| 2014 | $1574 | $1450 |
| 2015 | $1721 | $1600 |
| 2016 | $1721 | $1650 |
Information per CMLS 1/17/2017, accurate but not guaranteed
If you evaluate that data, the average rent in Danbury has gone up approximately 19.3% over 7 years, which leads to an annual average increase of 2.76%. The scary thing is the median, which rose 24.3% , which adjusts to a 3.47% annual increase. There is no guarantee that this trend of high rent is going to keep up. However I can tell you if you where to keep renting for several years, you are out a lot of money with no return.
In several cases, it makes considerbly more sense to own a home rather than rent if you can qualify for a mortgage. Without even too large or a down payment, it is more affordable to own a home. Each month you build equity. There are several other benefits for owning a home. Please contact me for furhter details. I look forward to hearing from you!
