|Specialty||# of Agencies|
|Single House or Condo||1|
|Home Owners Association||5|
|Total Local Companies||5|
The average rent for a 3 bedroom house in Poughkeepsie, NY is $1,672.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Searching for a property management company in Poughkeepsie, New York to manage your rental property, real estate investment, community or association? If so, you have come to the right place. All Property Management is the internet's #1 site helping Poughkeepsie, New York property owners and association or community board members to find property managers that best match their management needs. Click on the "Poughkeepsie, NY Property Management Companies" tab and use the "FREE Quote" button below to contact one of our professional property managers in Poughkeepsie, New York for both commercial and residential properties.
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Poughkeepsie, the "Queen City of the Hudson," is home to Vassar College and Marist College. It's within commuting distance to New York City and has trains that will drop you off right at Pennsylvania Station. But Poughkeepsie residents don't need to voyage to the Big Apple for the arts, as the Bardavon 1869 Opera House and the fine Hudson Valley Philharmonic Orchestra can be found right there in town.
In Q2 2015, Poughkeepsie was the 13th-best Northeastern housing market to own rental properties in and 64th-best in the country as a whole. Since Q1 2015, Poughkeepsie jumped two spots in the Rental Ranking Report's regional rankings for the Northeastern U.S. and six spots in the national rankings.
The Poughkeepsie rental real estate market is unfortunately far from perfect. In Q2 2015, Poughkeepsie had the nation's lowest annual property value appreciation rate (-0.19 percent, compared to the national average of 5.08 percent) and median age of housing inventory (130 days, more than twice the national average). It also experienced a slightly poor annual job growth rate of 1.78 percent in Q2 2015, about 12 percent less than the national average for that metric during that time period.
Regardless, Poughkeepsie rental real estate can still be a lucrative investment. The best proof of this is the fact that Poughkeepsie rents jumped a whopping 10.93 percent year-over-year in Q2 2015, more than twice the national average for that metric and one of the largest rental price appreciation rates in the country during that time period. It should therefore come as no surprise that the capitalization rate, a statistic that compares annual rents and property values that is commonly used by investors to gauge the attractiveness of rental properties, was an impressive 8.78 percent for Poughkeepsie rental real estate in Q2 2015 - almost 30 percent greater than the national average. In comparison, New York City's "cap rate" is a mere 6.58 percent; this indicates that rental real estate investors can get better returns on their investments in sleepy Poughkeepsie than in the bustling New York metropolitan area.
The Q1 2015 Rental Ranking Report shows that Poughkeepsie is the 15th-best city in the Northeast region for rental real estate investors, and ranked 70th out of the 75 U.S. markets this report evaluated. This lackluster performance is due, in part, to declining median rents in Poughkeepsie. But the Poughkeepsie metro still boasts a highly-impressive cap rate of 9.49 percent, the seventh highest cap rate in the country this quarter.
Poughkeepsie's modest home price appreciation of 3.46 percent, combined with its excellent cap rate, make it an attractive market for income-focused rental property investors. As long as New York City remains the cultural and business capital of the Western world, there will be demand for rental housing in Poughkeepsie, as the middle and working class people who work there have to live somewhere - and they're getting increasingly priced out of New York City itself.
Another interesting feature of the Poughkeepsie metropolitan area is that homes stay on the market there for a median of 133 days - the highest number of days on market in the country. This indicates that sellers have to make concessions to sell their homes, and probably contributes to the high cap rates and rental yields we mentioned above.
To calculate the statistics found in the Q2 2015 Rental Ranking Report, All Property Management gathered data, including the most recent government housing and jobs data, for 75 metros across the United States. Specifically, we looked at home vacancy, capitalization, home value appreciation and job growth rates, changes in rental prices, and the average number of days properties have been on the market to determine which U.S. metros will give investors the highest returns on rental investments. Click here to learn more about the Rental Ranking metrics.
This is one of the best times in recent memory to invest in rental real estate in the Poughkeepsie metropolitan area. Poughkeepsie's excellent average capitalization rate and high rental price increases indicate that investment properties there can deliver attractive returns for skillful and patient investors.
Thinking about renting out a property in Poughkeepsie? Save time, avoid hassle and maximize your rental income by having a professional property management company operate your rental property for you. Click here to get a free quote from a local property manager or call 877-780-4510 to have the All Property Management staff get quotes for you.
All Property Management specializes in connecting rental property owners with professional property managers in communities across the United States. These property managers help set rental rates, advertise properties, screen and manage tenants, collect rent, manage vendor relationships and ensure compliance with local, state and federal housing regulations. They take the hassle and worry out of managing rental properties - all while maximizing rental property owners' rental incomes.