Schenectady/Albany New York Rental Market Insights

[Michael Fyvie]

Hello All,

I am considering buying a long term rental property in the Albany or Schenectady areas and I am wondering if any agents/brokers/investors have any thoughts or insights to share in regard to where the market is heading over the course of the next 5, 10 or 20 years? Seems New York State as a whole is losing population but I think the capital region has been generally stable (I think?). Prices and sales have been up dramatically in the last year, is it a bad idea to buy now or is there more upside to be seen? I am weighing all of this against possibly relocating to the Tampa Area, down the road some years (where the market is on fire right now). Would it be better to wait and invest in that bigger market? Any thoughts or insights that you could share would be greatly appreciated!