It's a long-held belief that rental properties hurt the values of nearby homes. What does that say for our neighborhood the "Northend" of Frederick.
Buyers are definitely concerned about too many renters. People are less inclined to make an offer on a house that is in a street filled with apartment buildings (because) they perceive (the area) to be more congested, have less parking, and consider the residents more transient."
I think there is a stigma about renters, but the research just isn't there to say for certain that a given amount of rental properties in a neighborhood brings values down.
There is continued concern how nearby rentals will affect home values. A 2013 Penn State University study published in the Journal of Urban Economics points out that a home's transition from rental to ownership provides more than $1300 per year to nearby homes. In other words a house is worth more when the landlord next door decides to an owner occupant.
There is endless opportunity when selling or buying a home in the Northend!
If you are selling or buying a home in the If you are planning to list your property make sure your agent aims your marketing a value oriented buyers. These are buyers who are willing to put the owner occupancy issue aside in order to get just the home they want. The Northend offers city living at an affordable price.