3,674Units Under Management
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What’s happening in Montgomery County, PA?

Family Fun Activities and Rental Market Forecast in Montgomery, PA

 

Boasting multiple parks, five historic sites, and over 50 miles of trails, Montgomery County has something for everyone just 24 miles from exciting Philadelphia. Whether you are looking for a weekend away, fun for the whole family, or to move permanently, check out all Southeast PA has to offer! Read on as we discuss Montgomery County’s rental market forecast and why the towns of Montgomery Co are a great place to live, work, or invest!

What Is There To Do in Montgomery County?

  • Elmwood Park Zoo: Embrace your wild side at the Elmwood Zoo in Norristown. Enjoy the Treetop Adventure Park ziplines, participate in a giraffe or bison feeding event, or see the sites. Additionally, Elmwood is the first zoo in the world to become a Certified Autism Center (CAC). To receive this designation, organizations must complete training and a review process. The goal is to better serve individuals with autism and other sensory needs.
  • LEGOLAND Discovery Center: Where else can you see local landmarks recreated using over 1 million LEGOS? This place has it all, from a 4D Cinema experience and build-and-play area to an exciting LEGO-themed ride for the whole family!
  • Arnold’s Family Fun Center: If you are looking for all-inclusive family fun, look no further. Arnold’s has go-karts, laser tag, bumper cars, duckpin bowling, and inflatable bounces. Additionally, it boasts the largest arcade in the area.
  • Keswick Theater: After opening its doors on Christmas in 1928, the Keswick has become one of the top venues in the Central Atlantic region. After undergoing extensive renovations, The Keswick now seats 1,300 and welcomes internationally acclaimed performers, comedians, and musicians.

Are There Outdoor Activities in Montgomery County, PA?

Yes! Montgomery County takes pride in its park system, managing over 6,000 acres of public open space. This includes nine parks, five historic sites, and over sixty miles of regional trails! Also, there are over 100 historic and non-historic structures, playgrounds, a working canal lock, wildlife center, and an archives/artifact collection of over 53,000 pieces. Additionally, each park has its unique trails and educational programs to suit a variety of interests.

Is Montgomery County, PA, a Good Place to Live?

Yes! Montgomery County offers the perfect blend of country charm and city convenience. Thanks to its proximity to Philadelphia, Montgomery Co neighborhoods are a hotspot for commuters. Check out the list below of some of the county’s best areas to live, work, or play!

Best Towns in Montgomery, PA

  1. Pottstown: Conveniently situated between Philadelphia and Reading! Home to the nation’s oldest mill, Pottstown continues to grow while maintaining its main street charm.
  2. Fort Washington: Ft Washington boasts small-town charm just 25 minutes from Philadelphia. This is an ideal place to soak up local parks, culture, and historical attractions.
  3. Lansdale: Convenient to Philadelphia, Lansdale is diverse and densely populated with tons of amenities. Many young professionals utilize local transit to commute to the city.
  4. King of Prussia: Named for a 1769 tavern and inn, King of Prussia offers a plethora of things to do thanks to luxury shopping and a variety of restaurants.

Is Montgomery County, PA, a Good Place to Invest?

Yes! Some critical factors to consider before investing in a particular area is job growth, population, and affordability. Cities such as Pottstown, for example, has a rental value on the rise, up roughly 3% over last year.

  • Job Growth: Even with the added strain of the COVID-19 pandemic, the county’s unemployment rate hovers around 11.4%. So, jobs continue to recover as the economy reopens. From April to May, Montgomery County decreased their unemployment numbers by 3% as the rest of the country was still on the rise. They continue to maintain percentages lower than both the PA and US averages.
  • Population Growth: Over the last several years, Montgomery County has shown a steady growth rate of around 0.49% over the previous year. The majority of that population falls between the ages of 30 and 60, with nearly 30% of the total population being renters.
  • Affordability: The rental market forecast is hot! While home value rose 2.6% over the past year, Zillow predicts it will begin to fall. Overall, homes are pricier than the Philadelphia-Camden-Wilmington Metro area, but so are the potential rents. The median rent price here is $1725, that’s higher than most of the surrounding area.

What are the Important Factors for Choosing a Profitable Rental Investment Location?

Location, location, location! You’ve probably heard that location matters, but it is the number one factor when determining both where people decide to live and where you should invest. Check out these different location-based considerations below before you chose an investment property.

  • Neighborhood: Visit and thoroughly evaluate the area in which you plan to purchase. The community will drastically affect the quality and size of your tenant pool, so choose wisely. The rental market anywhere will have some seasonal changes. However, buying near colleges means landlords could struggle even more to fill Winter vacancies.
  • Nearby Amenities: Spend some time roaming the neighborhood. Visit local shops, restaurants, parks, gyms, and see if there is access to transit. All of these are selling points to a renter, and your familiarity with the area hotspots will help market the unit more effectively.
  • Local Taxes: Pennsylvania has overall property taxes that are higher than the national average. Since these tax rates can vary from county to county, evaluate tax trends and costs for the specific area you plan to purchase.
  • Crime Rating: Local area crime watch or local police have up-to-date crime statistics that may be helpful if you are not otherwise familiar with the area. Nowadays, online searches can also shed light on neighborhood crime reports. So, look for trends in the area and types of crimes reported. While homes in higher crime areas may be cheaper, they will also take longer to find a qualified renter.

Additional Neighborhood Considerations for Investors

  • Local Rental Market: Research the areas rental market forecast and see how many units are currently listed in the neighborhood. If there seems to be a lot of listings, its vital to determine if that is just a seasonal trend, or if the community is undesirable. If rental unit supply is high, landlords must lower rates to fill units.

Whether you are looking for a permanent home or investment property, Montgomery County, PA should be on your radar as it shows a promising rental market forecast. With so much to offer from its charming historic countryside to its cities and towns such as Conshohocken and Ardmore, Montgomery County has something for everyone. Are you looking for a rental property? Check out Bay Property Management Group Montgomery County for all of the latest listings and information. Come see how our experts can help you with all of your property management needs!