Condo market in Stamford, CT

Stamford, Connecticut
General Real Estate Investing
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Condo market in Stamford, CT

Abbie G.
MA · Member since 2024 · 2 posts · 1 vote

Hello everyone,

I'm currently living in Massachusetts and house-hacking (mid-term rentals). I am considering purchasing a condo in Stamford, CT, to use as my personal residence, as I'll need to travel to CT frequently—about 50% of the time. When I am not there, I'm interested in renting it, either short-term or mid-term. I have only been to Stamford a few times and really like it. I also appreciate its convenience for traveling to NYC. From an investment viewpoint, I favor multi-family properties. However, considering this will also be used as my secondary residence, I'm drawn to the security and amenities condos offer, and once I've secured this condo, my next investment focus will be multi-family properties.

I'm curious about the current condo market in Stamford. Are there specific considerations I should be aware of about the condo market in Stamford? While I understand regulations may vary by condo association, I'm also wondering if there are general restrictions on operating Airbnb in the area. 

I appreciate your feedback/advice on this!

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  • Peter Anderson
    Real Estate Broker · Stamford, CT · Member since 2016 · 66 posts · 33 votes
    2y

    @Abbie G. Hi Abbie, sounds like a good plan. I am a real estate broker and property manager living in Stamford. We manage a few condo communities and I also have a few short/mid term rentals in the area. Happy to hop on a call to help answer any questions. I’ll send you a message with my cell.

    0Reply
  • Abbie G.
    OP
    MA · Member since 2024 · 2 posts · 1 vote
    2y

    Hi @Peter Anderson, Thank you for the quick response. Sending you a DM shortly.

    Thanks

    -A

    0Reply
  • Mario B.
    Investor · CT · Member since 2017 · 165 posts · 75 votes
    2y
    Quote from @Abbie G.:

    Hi @Peter Anderson, Thank you for the quick response. Sending you a DM shortly.

    Thanks

    -A


     You're in great hands Abbie!  Peter is the best!  

    0Reply
  • Yufei C.
    Rental Property Investor · Stamford, CT · Member since 2018 · 2 posts · 0 votes
    2y

    Hi @Abbie G.,

    I was in a similar situation a few years ago - I’m also from MA and currently live in Stamford. I have a couple of rental condos in downtown Stamford, both on long-term leases. I'm not aware of general restrictions by the city, but when I was looking into short-term rentals, I had a hard time finding a condo association that will allow a rental period shorter than six months. Or, if no minimum lease period is specified, sometimes the bylaws spell out, "A unit owner may not maintain and rent a furnished unit".

    Happy to discuss my experience. Good luck with your search!

    0Reply
  • Mario B.
    Investor · CT · Member since 2017 · 165 posts · 75 votes
    2y
    Quote from @Account Closed:

    The condo rental market in Stamford SUCKS if you are a landlord. Extremely high taxes and maintenance costs plagued by huge inventory sitting in the market. 

    I own a 1 bed 1 bath unit overlooking downtown from a huge balcony, 1 car spot and free heat and hot water for $2200.00 and it has been sitting in the market for 60 days now. 


     Hi Byram. I’m sorry to hear that. I own a studio at 700 Summer St. It’s never on the market for more than 2 weeks. If you would like to talk more offline I can help give to some ideas or suggestions. 

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