Derry, New Hampshire is a charming town located in Rockingham County. With its rich history, beautiful landscapes, and close proximity to major cities like Boston and Manchester, it's no wonder that many people are looking to rent properties in this area. As an expert in the real estate market, I am here to provide you with all the information you need.
The Real Estate Market in Derry, New Hampshire
Before we dive into the average rental prices for properties in Derry, New Hampshire, let's take a look at the current state of the real estate market in this town. According to recent data from Zillow, the median home value in Derry is $296,000.This is slightly higher than the median home value for the state of New Hampshire, which is $275,000. However, despite the higher home values, Derry has a relatively low cost of living compared to other cities in New Hampshire. This makes it an attractive option for those looking to rent properties in a more affordable area.
The Average Rental Price for Properties in Derry
Now let's get to the main question - what is the average rental price for properties in Derry, New Hampshire? According to data from RentCafe, the average rent for an apartment in Derry is $1,400 per month. This is slightly higher than the national average rent of $1,200 per month. However, it's important to note that this average includes all types of apartments - from studios to multi-bedroom units. So let's break it down further and look at the average rental prices for different types of properties in Derry.Studio Apartments
If you're looking for a more affordable option, a studio apartment in Derry may be the way to go.The average rent for a studio apartment in Derry is $1,100 per month. This is significantly lower than the national average for studio apartments, which is $1,600 per month.
One-Bedroom Apartments
The average rent for a one-bedroom apartment in Derry is $1,300 per month. This is slightly higher than the national average for one-bedroom apartments, which is $1,200 per month. However, compared to other cities in New Hampshire, Derry's one-bedroom rental prices are relatively affordable.Two-Bedroom Apartments
If you're looking for a two-bedroom apartment in Derry, you can expect to pay an average of $1,500 per month.This is slightly higher than the national average for two-bedroom apartments, which is $1,400 per month. However, compared to other cities in New Hampshire, Derry's two-bedroom rental prices are still relatively affordable.
Three-Bedroom Apartments
For those looking for more space, a three-bedroom apartment in Derry will cost an average of $1,800 per month. This is higher than the national average for three-bedroom apartments, which is $1,600 per month. However, it's important to note that three-bedroom apartments are not as common in Derry as one and two-bedroom units.Factors Affecting Rental Prices in Derry
Now that we have a better understanding of the average rental prices for properties in Derry, let's take a look at some of the factors that can affect these prices.Location
As with any real estate market, location plays a significant role in rental prices in Derry.Properties located in more desirable areas, such as those closer to downtown or with easy access to major highways, will typically have higher rental prices.
Property Type
The type of property you're looking to rent will also affect the rental price. As mentioned earlier, studio apartments tend to be more affordable than larger units. Additionally, single-family homes and townhouses may have higher rental prices compared to apartments.Amenities
The amenities offered by a property can also impact its rental price. Properties with amenities such as a pool, gym, or on-site laundry facilities may have higher rental prices compared to those without these features.Market Demand
Lastly, the current demand for rental properties in Derry can also affect rental prices.If there is a high demand for properties in a particular area, landlords may be able to charge higher rents.
