In Northern Colorado the rental market is on fire! Rental vacancy rates are below 3% in Fort Collins and Loveland, which is one of the lowest rates in all of Colorado. Property owners and property management companies are getting 5-10% rental increases year over year because of current market demand.
Right now in Fort Collins you can rent a 3 bed, 2 bath, 2-car single family home for approx $1,300/mo.
For that same monthly payment you could afford to purchase approximately a $250,000 home using FHA financing with 3.5% down ($8,750.00 down payment).
Here’s a great article on msnbc.com talking about how the median monthly mortgage payments and median monthly rent payments are about the same, making home buying more financially advantageous than renting. http://ow.ly/8Gujm
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