|Specialty||# of Agencies|
|Single House or Condo||10|
|Home Owners Association||5|
|Total Local Companies||16|
Connecticut Rental Market Overview
A State in Transition
Searching for neutral, non-political business information about Connecticut isn't easy. These days many business articles offer slants that read more like editorials than anything resembling reports, spinning unemployment numbers, talking about gentrification and blaming political leaders for economic woes. Connecticut bears the brunt of this political/business criticism, possibly because registration documents by the Secretary of State found that the largest majority of residents (42%) consider themselves unaffiliated with any political party. But there are plenty of statistics to fuel editorials: According to the U.S. Department of Labor, Danbury had the lowest unemployment rate in the state at 6% in January 2014 while Waterbury, a former leader in brass fixture manufacturing had the highest (10%). Writers like to pick on Waterbury. Atlantic Magazine recently ranked it among the "Saddest Places to Live" based on a study of social media posts. It's not all old and sad in Connecticut. A recent CNN feature found that of the top 25 U.S. towns with the highest median household income, New Canaan ranked first, Darien ranked second, Westport came in fifth and Greenwich fell in more towards the middle at 14th. Some "analysts" suggest that the highest median household incomes come from residents who earn their wages in Manhattan or Boston, but not anywhere in Connecticut. Others suggest that the numbers are skewed because of the presence of 'old money' earned when Connecticut was far more industrial than today.
Step Away From the Spin
The reality is that Connecticut has economic bright spots and areas of woe just like every other state in the country. As a landlord or independent property investor, you know that everyone needs to find a place to live, and you need to figure out the best locations for profitable properties that deliver steady revenue. That's why many small landlords and regional investors consult with Connecticut property management companies prior to making modifications to their rental property portfolios. Most property management companies employ real estate professionals who work firsthand with tenants and landlords in the market. They can provide local insights that large investment firms and business editorials can't observe from their offices in Boston or New York City. Review the profiles of Connecticut property management companies featured here and then ask for your free information today.