Rental Market Leaders Team Up to Release “Rental Statistics Report” on Rental, Vacancy and Saturation Rates
Real Property Management (RPM), the nation’s leading property management organization, and RentRange, the nation’s leading provider of Rental Market Intelligence™, together release “Rental Housing Statistics” that shows national rental home rates are rising.
Through the first quarter 2015, the companies reveal that the average monthly rent for single-family homes was $1,286, representing a 5.4 percent year-over-year increase. The rental market data was limited to three-bedroom single-family homes in the U.S.
Rental rates were up in all 10 regions analyzed in the report. The Pacific and Northeast regions saw the largest upturns with 13 percent and 10.9 percent year-over-year increases, respectively. On the other end of the spectrum, the Mid-Atlantic and South-Atlantic regions had the lowest gains at 1.6 percent and 2.6 percent year-over-year increases, respectively.
Rental Rates and Year-over-Year Increases of 10 U.S. Regions through the First Quarter 2015
|REGION||Median 3 BR rent ($)||Y-o-Y Change in 3BR rent|
Rental rates are up throughout the country and we expect that trend to continue in the near future. There are a lot of economic indicators supporting that viewpoint, not the least of which is America’s continual shift toward renting. California’s rental rates are the highest across all regions with median 3 bedroom rents at $1907.
Higher rents and the availability of detailed rental market data create unprecedented opportunities for investors to make good decisions. Along with professional property management, it reduces the risk of investing with a right property manager.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.