@Wesley Childers
Good thoughts and good luck investing!
@John Kunick
I was shocked to see Bixby, Jenks, and Owasso either dropped in rent value or stay about the same on the chart because I would’ve thought just like you have reported, an increase of 5-8%
I’m thinking the new builds of apartments may be dragging down the median. I know with rising home prices and new builds in the suburbs competition has been fierce both buying and renting.
For me, I have seen a pretty flat trajectory in my rentals if not a small dip, but I am usually at the top end of the rent spectrum because I usually do a renovation and it is basically brand new.
The rentals I have had an increase on have only been 25-50 dollars per month, approx 2-5%. But in some cases like in the winter months I try to be aggressive and sometimes drop the price 25/mo just to get them filled.
For some of my 2 bedrooms, my direct competition has been the new apartment complexes with the pool and exercise room etc. I have had to be very intentional dressing up either the charm/character of the houses and or keeping rent close to what those new builds are.
Overall, I see an influx of rental properties (both in new apartments and in SFRs) so trying to be competitive with rental rates has driven either the rates down in price or flat.
