Rental Rates Rising in Conshy

Looking for a rental in Conshohocken?  The rates have steadily climbed since the turn of the century.  In 2001, a one bed room was between $600 to $800 and now averages just over $1,200.  Two bedrooms have jumped even faster, rising from just over $800 in 2001 to $1,800m in 2012.

I contacted Conshy-based real estate agent Mike Sroka of the Mike Sroka Team to comment.  He stated,

As you can see in the graph, rental rates in Conshy have steadily increased since 2000.  Conshohocken has become more and more popular because of the ease of the commute in and out of the city due to the two train stations and quick access to 476, 76 and the turnpike.  Add no city wage tax, Conshy’s restaurants, the social scene for the 25-45 demo and amenities like the bike trail and you have all the necessary elements to great a very desirable rental market. Our team has filled 30 rental units just in the past six months.

Another factor is real estate investors.  Sroka explains, “The availability of rental homes has increased from investors and developers alike. It is a solid investment to buy in Conshohocken and create a rental property. Many first time home buyers who move to their second larger home often keep their first home in Conshy as a rental property. The lower the interest rate you lock in on an investment the better the cash flow.”

If you are interested in learning more about Conshy’s rental market, investing in a property, need help renting a property or looking for a place to rent, call Mike Sroka at (484) 531-5844.