Worcester MA rent heading down?
I am currently the owner of a duplex in Worcester, just wondering if anyone else investing here is worried about rent decreasing in the near future? Seems as though there are a ton of new developments coming online now/and in the future. Thinking this may be deflationary for current rents, but that is just my hunch with no data to back it up.
Hoping some other local investors can weigh in with their thoughts.
@Nik Lavoie - What class of property do you own? If its B-C class you shouldn't experience any reduction in rent from new product going up. You really can't build affordable (unless subsidized) these days which is why your B-C class tend to hold their rents. Class A rents would of course be impacted by new product going up around the area.