Amador Rental Units Producing More Income Than Home Sales?

Amador Rental Units Producing More Income Than Home Sales?

A recent nationwide study has revealed that rental units in Amador County are producing more income than the sales value of single-family homes. According to gavop.com, a real estate, housing & local data & analytics service, the median gross rent for Amador County in 2009 was $1,075 and then dropped to $1,047 by 2015, a 2.6 percent decrease. Home values there decreased by 29.2 percent during that time, dropping from $354,500 in 2009 to $251,000 in 2015. Despite decreases in both rental and home values, Amador County’s rental yield increased by 37.6 percent from 3.6 percent in 2009 to 5 percent in 2015. The county’s population also decreased from 38,039 in 2009 to 36,995 during that time period. Across the river in Calaveras County, rental yield increased 71.3 percent between 2009 and 2015 and was the highest in the nation. Home values in Calaveras County decreased from $370,100 to $243,800 during the same period of time. The county’s population also decreased from 46,548 to 44,767 in 2015. 

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