Skip to Content

Ready to find your nearest Real Property Manager? Click here!

Find a Real Property Manager

Home Rent Rates Jump 5%

Rental Market Leaders Team Up to Release “Rental Statistics Report” on Rental, Vacancy and Saturation Rates

SALT LAKE CITY – May 7, 2015 – Real Property Management, 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.

Rental Housing Statistics_Q12015View the “Rental Housing Statistics”.

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
Pacific 1516 13.0%
Northeast 1693 10.9%
Southwest 966 8.8%
Southeast 957 8.3%
Texas 1244 6.9%
California 1907 6.4%
Mountain 1197 5.7%
Midwest 992 4.7%
South-Atlantic 1216 2.6%
Mid-Atlantic 1590 1.6%

“Rental rates are up throughout the country and we expect that trend to continue in the near future,” said Don Lawby, President of Property Management Business Solutions, the franchisor of Real Property Management. “There are a lot of economic indicators supporting that viewpoint, not the least of which is America’s continual shift toward renting.”

The “Rental Housing Statistics” also examined vacancy rates, the percentage of homes considered unoccupied, through the end of the first quarter. The national rate rose slightly to 5.7 percent, up .09 percent year-over-year. The Midwest region had the highest vacancy rate at 7.2 percent whereas Texas had the lowest at 3.6 percent.

Lastly, the report analyzed the saturation rate across the country. This is the estimated percentage of rented single-family homes as a share of all single-family homes. Nationwide, 23.4 percent of single-family homes are rented, according to the data.

“Higher rents and the availability of detailed rental market data create unprecedented opportunities for investors to make good decisions,” said Wally Charnoff, CEO of RentRange. “Along with professional property management, such information reduces the risk of investing in a broader range of geographic areas.”

As leaders in the rental housing industry, Real Property Management and RentRange have an ongoing strategic business relationship. Real Property Management relies on RentRange’s proprietary rental housing data to provide its landlord customers with accurate, current information about local rental properties and rental markets.

Share on FacebookTweet about this on TwitterShare on LinkedIn

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.

  1. This is a great report, even in a small market like Cedar City, Utah we have seen higher then average rental rates and they continue to edge up. Another issue is lack of rental properties, RPM Cedar City is at 98% occupied and with that said now is a great time to invest in this market. Investment properties are in the $100k’s for a 3 bed 2 bath home with rents ranging between $850 to $1000/month. Visit https://www.rpmcedarcity.com to contact us.

    Matt
    435-586-1777