Normally, when we think of homes near light rail, we think of homes for sale along the 20 mile stretch. The fact is, there are literally hundreds of homes and thousands of apartments near light rail for lease.
As of this evening, according to the MLS system, I found 210 homes for lease within 1/2 mile of a light rail station. These properties ranged from $425 per month all the way up to $6000 per month! Getting more “realistic” for most tenants, I decided to see how many homes were for lease near the light rail for under $2000.00 per month and found that number to be 194 homes.
Along the 20 mile route, the rents generally seem to be affordable. In fact, if you look at the average home for lease near the light rail priced at or below $1500.00 per month, out of the 158 homes currently ( as of 9/20/09) available, the average asking price is $934 per month with an average size of 1078 square feet. The largest home I saw in that price range was 2050 square feet.
Having searches saved in our system that show the 1/2 mile radius of each of the light rail stations makes for some really interesting analysis (for me) . We can look at each station individually or at the entire system as a whole. Doesn’t matter if we want homes, condos, sale, lease or even a list of foreclosures near light rail, it is all right there. I like having that flexibility even though our friends, family or customers can always use the free home search page to get a pretty good idea of the market in any area.
I saw a recent comment by a friend on-line that “most real estate agents don’t do rentals.” This got me thinking about how many people might really feel like they don’t have access to good information. If an agent has a true interest in helping a person or a true interest in the area in question, I’m pretty sure they can be of assistance. 🙂