Southeast Sees Rents Rise Despite High Vacancy Rates
2017 HW Tech100 Winner: Investability
While low inventory is blamed for rising home prices, how to explain rising rents in places with high vacancy rates?
Southeastern markets like the Fort Myers, Fla., and Myrtle Beach, S.C., have seen spikes in rent, even with vacancy rates in the double digits, according to RentRange. The provider of data for the single-family residential sector recently issue its fourth-quarter rankings of the top 25 metros showing the biggest year-over-year rent increases. Fort Myers ranks No. 2, with the average rent climbing by 10.9% — and an even higher average vacancy rate of 11.4%.
If you're in the market for a home rental, check out sunny Myrtle Beach
Investability is an online real estate marketplace. The company's platform allows users to sort and analyze more than 1 million MLS-listed and exclusive properties by cash flow, net yield and gross yield, matching investors with properties that meet their financial criteria.
Invitation Homes’ Fannie Mae Deal May Have Implications for the SFR Market
Looking to rent a place in the sun with good golf courses nearby? Your best bet might be the coastal South Carolina town of Myrtle Beach, a once hot tourist destination for golfers that has now become overbuilt, according to RentRange, a provider of market data and analytics for the housing industry.
Single-family home rent hikes in Denver are 4th-highest in U.S.
The strength of the single-family rental housing business was clearly on display over the last month as Invitation Homes raised billions in the capital markets, both through its initial public offering and a billion dollar loan deal with Fannie Mae.
Charleston region in Top 25 for home rent leap in fourth quarter of 2016
Rent hikes for single-family homes in the Denver area rose by more than 10 percent over the past year, placing the area No. 4 in the country for rent hikes.
According to rental data company RentRange, rent hikes for single-family homes in the Denver-Aurora area rose 10.2 percent in the fourth quarter of 2016, compared with the same time a year earlier.
Rental rates for homes in South Florida rose 7% last year
The Charleston-North Charleston market came in as the 23rd highest metropolitan area in the nation for rental rate increases of single-family homes in the last three months of 2016 versus the same period a year earlier, according to a new report from housing information service RentRange. Rents in the Charleston area rose 5.1 percent quarter over quarter.
Nashville ranks 13th in metro areas with largest rental rate increase
Rental rates for single-family homes in the Miami-Fort Lauderdale area increased an average of 7 percent in the fourth quarter of 2016, compared to the same period in 2015.
RentRange Data Services also reported that the vacancy rate among houses for rent in the Miami-Fort Lauderdale area was 5.3 percent in last year’s fourth quarter.
Encouraging News for SFR Investors
NASHVILLE, Tenn. (WKRN) – Rental rates are increasing across the U.S., and we’re feeling it here in Middle Tennessee.
A new study from watchdog website Rent Range identifies 25 markets with the largest rental rate increases, and the Nashville, Murfreesboro, Franklin metro area is No. 13 on the list.
Cozy Offers Access to Data on 10M Properties with RentRange
“As we begin 2017, it continues to look bright for single-family rental investors,” said Wally Charnoff, chief executive officer, RentRange Data Services. “Compared to the Q3 2016 change in rent, we are seeing the percentage change begin to lessen while rents continue to increase, which should ultimately stabilize demand, keeping vacancy rates down. It remains important for investors to look at stability within a market, focusing on the market’s activity over time to ensure there is a good balance — low historical volatility with a current upswing.”
Make The Most Of Your Investment!
RentRange, a market data and analytics provider for the housing industry, is now the data provider for Cozy, which provides property management software to more than 100,000 landlords.
Did you know 70% of single-family residential (SFR) investors invest in a rental property within 10-mile radius of their own home? Find out some advice from real-estate expert, Walter “Wally” Charnoff about making money from real-estate, including his top 3 tips!