$900 for rent (house) in Youngsville/Wake Forest??? (Raleigh, Cary: loan, real estate)

[SRM]

We're moving from Central Fl in June and will need to find a nice home (or townhome?) to rent for $900/mo. My husband will be working in Wake Forest so we want to find something in and around that area -- Rolesville, Youngsville etc.

We have 2 small children and would prefer a home with a yard.

I've been researching rentals in the area for several days and am not finding anything below $1K/mo. Is it possible to find something for <$1K/mo in the area?

Any ideas? Thanks so much!

[saturnfan]

Houses are high and deposits are way more than apts.

[SRM]

We're prepared to deposit at least $900 in addition to the first month's rent (standard here in Central FL). There are homes for rent here by the dozens for <$1K/month. Is that not the case in and around Wake Forest?

We're planning on spending several days driving around the area, but I want to have our search narrowed down a bit. I'm guessing we may have to consider condos/townhouses?

Thanks!

[Chicky]

Here's a couple in Wake forest for <$1000.

Homes For Rent in Wake Forest NC, Rental Houses and Apartments

[JJingle]

SRM - I was under the impression that Florida is flooded with rentals due to the decline of the real estate industry there. That is absolutely not the case here.

For a nice home in a typical subdivision, I would expect to pay 1200 or more a month. Just figuring that the homeowner needs to have some type of revenue stream from the property.

[SRM]

SRM - I was under the impression that Florida is flooded with rentals due to the decline of the real estate industry there. That is absolutely not the case here.

For a nice home in a typical subdivision, I would expect to pay 1200 or more a month. Just figuring that the homeowner needs to have some type of revenue stream from the property.

Central Fl has pretty much never had a shortage of decent, affordable housing. Prior to the housing market boom here when prices nearly tripled, investors were buying up homes all over Central Fl because our housing prices were so reasonable. For example, the home that we're renting now, the owner owns it free and clear so most of our rent is profit for her. The house we're renting is 1700 SF on 1/2 an acre and we pay $900/month. We have an investor friend who owns the majority of his homes because he paid <$100K for a really nice home in a nice area. His homes rent for at or just below $900/month.

My area has recently become flooded with rentals because the owners can't sell them. My husband and I keep watching a few homes in our neighborhood and know that it's 'For sale' then "For rent" then "Foreclosure." Most of them bought too much home with a creative loan that they now can't afford. Investors are doing very well here because they can then swoop in and buy them cheap and rent them out. It's crazy here!

[SRM]

Thanks, Chicky for the link. I'll keep my eye on it. I've checked Realtor.com and Craigslist and also the online version of the area newspapers.

One thing is for sure, RTP isn't short on townhomes for rent.

[saturnfan]

The danger is that the owner will default leaving the tenant to be evicted by the lender,

House rentals can be risky.

[Chicky]

Here is another website to keep an eye on...
Available rentals from Henry Property Management. Rental homes in Cary, Apex, Holly Springs, and Wake county North Carolina. We have houses to rent near Research Triangle Park NC. Look here for a house to rent in Wake County North Carolina. Property

We rented from this mgmt company a few years ago and had an excellent experience. Tends to be more in Cary/Apex, but you might get in touch with her and ask if she knows of any others in N. Raleigh/Wake Forest area.