Cookeville in Tennessee probably never had it better. Just a few years back, the city hosted just 24,000 residents. Not anymore. According to the latest statistics, more than that number (25,000) is coming to the city every day to do their jobs, for schooling and shopping. Staggering! Isn’t it? The outlook is positive. There are better amenities for the residents and visitors.
Just look at the number of apartments for rent in Cookeville TN that are available now, and you’ll get the picture. There’s new development all over the city. Of course the existing homeowners are cashing in too. They are refurbishing their existing properties and giving away on rent. After all, if there’s demand, the supply is bound to try and meet it.
Here are a few other reasons why the Cookeville real estate market has picked up so much in the last few years. Check them out.
- At this time, there are more than 100 plants in and around the city. They are employing more than 10,000 people.
- Russell Stover Candies had to lay off many workers a few years back. This had no impact on the city’s economy shows how strong it is.
- The unemployment rate is at its lowest in the last decade.
- Plenty of opportunities in the healthcare niche.
- Strong public school system. Presence of Tennessee Technological University that employs 2000 plus workers.
- Retail sales have crossed $1.30 billion. It’s growing faster than the national average.
Increased Demand for Apartments for Sale in Cookeville, and for Rent Too
All this of course means that there’s increased demand for not just apartments in Cookeville, but all types of properties. Sure the supply is going up. But with the city’s strong growth story, there has been more demand than supply in recent years. And this situation almost always leads to cost escalation.
Sure enough, the price is going up, but Cookeville is by no means LA or NYC. It’s never going to be that costly. But it could still be very steep for a lot of people, as in some neighborhoods, property prices have gone up by as much as 50% over the last 7-8 years. So if you are planning to buy it here, do it now. Save money while you can. Why spend more than what you need to on your apartments for sale in Cookeville? Touch base with real estate agents in Cookeville.
Look for older properties, provided of course they are in good condition. This shouldn’t be a problem usually, because most owners are taking good care of their assets. Apartments that have come up in recent times will almost always cost more unless of course they are located in a remote area of the town. Be careful about the neighborhood you choose. You don’t want to move into an area where there is too much activity. That would steal your peace of mind.