Hi There…I’m Donna Taylor with living in Central MS! Last week I posted a poll on our YT Channel about what video we should do this week and the majority of you wanted to see what a rental home in Madison looks like and what they cost! So, thank to everyone that answered that poll. Today I’ll be telling you about our rental market and we will take a tour of this home currently on the market for rent!
If you’ve watched any of my videos, you might remember that finding a place to rent in Madison is very difficult. There are NO apartment complexes in the Madison, and 95% of our residents own their homes, so finding a rental is quite a hurdle if you’re planning to relocate to our city!
There are currently 12 homes for rent in Madison in our MLS ranging in price from $2,200 per month up to $3,200. The average price is right around 2500. Most of these landlords want a 12 month lease…that seems to be one of the biggest hurdles for my clients relocating to Madison…most of them only want a 6 month lease. So, if by chance you’re watching this video and you’re an investor that’s looking to purchase a rental home, please reach out to me…I’d love to talk about buying a home for the exclusive use of our clients that are relocating here that need to rent for 6 months while they find something to purchase. Oh, and let’s talk about rental scams real quick…I saw on the news last week that a family relocating here sent $3,000 to a man they met on line to rent his home, I’m sure this happens everywhere, but please be careful when you are sending someone money…try to find a real estate agent to assist with your rental…which can be hard, because most agents don’t work with rentals…because we typically don’t get paid on rentals…and well…who wants to work for free?? But, I just wanted to mention that because sometimes there are bad people in the world.
So, if you’re not willing to pay 2500-3000 per month to rent a home for a year…let’s talk about another option. I would consider purchasing something newer that was built in the last 3-5 years around the $350k price point and live there for a year or 2 until you find exactly what you want and where you want to be. Our home prices in Madison are steadily rising, even in years where the national economic climate isn’t great. So, instead of spending $30,000 in rent (that’s assuming you rent a home for 12 months at 2,500), you can put that money to good use purchasing a smaller home that will be easy to sell once you find your forever home here! Now, to be fair, $350k is right around our average price here, so, when something goes on the market at that price, and that’s in good shape, they go pretty quickly…usually with in a few days, so you’ve got to be comfortable pulling the trigger…. if you can’t make it here to see the home in person. If this makes you nervous, I’d recommend coming for a quick visit and let’s meet and get acquainted and look at a few homes, that way when you’re ready to make the purchase, you’re comfortable making that big decision.
So, Let’s Go inside and check out this home. This home is on the market for $2,500 a month. And it’s pet friendly…that’s another thing to consider when looking for a place to rent…seems like only about half of the landlords allow pets at all…and the ones that do will almost always charge a pet fee and/or deposit. So, this home is located in the heart of Madison. You can see it has a 2 car garage…and 3 bedroom 2 bath…this is typically what you can expect at this price point around Madison. When you're ready to buy your home, give us a call!
If you’re thinking of moving to Mississippi, be sure and check out our website www.taylorgroupms.com, it has all MLS listings in Central MS and is updated every 10 minutes. Whether you're buying or selling, our team is here to help every step of the way. Contact us today to get started.
Taylor Realty Group
601-613-9100
