Are rents dropping in your market? You are not alone.

[Nathan Gesner]

https://www.zillow.com/research/october-2024-rent-report-345...

It's normal for the market to slow down in winter, especially right around Thanksgiving and Christmas. This year feels different, and I'm hearing many landlords complain they can't find renters. My market is humming right along, except for the higher-priced single-family homes.

The linked article provides some good information.

What are you seeing? Has it slowed? Reversed? Stayed the same?

[David Krulac]

@Nathan Gesner  Don't believe everything you read, especially on the web.  Most of our properties are in the fastest growing county in the state.  Lots of building going on, and lots of jobs.  The number one employer is the state government, because the capital is next door, and the number two employer is the federal government, both are not cyclical and don't fluctuate, if anything their job base increases.  Other large employers are health, education, as well as transportation and warehousing.  There are drops in other areas including big cities and rural areas and areas that are losing population.  Pittsburgh's current population is 302,000 (US census estimates 2024) whereas in 1950 it was 676,000.  Philadelphia's current population is 1,600,000 versus 2,071,000 in 1950.  Pennsylvania is still the fifth largest state after CA, TX, FL and NY and covers a large area with different sub-economies.  I've looked at the fastest growing areas in other states and while I think you can profit from real estate everywhere, perhaps with a different strategy, investing in the fastest growing areas in the state seems to me to give an edge or a push in the right direction.

David Krulac

Bigger Pockets Podcast #82