Rental Statistics Report Released Shows Rent, Vacancy, and Saturation Rates All on the Rise
DALLAS– Dallas property managers can breathe a sigh of relief as recent rental statistics report shows rent, vacancy and saturation rates are all on the rise. This report of detailed market data provides unprecedented opportunities for investors as they make decisions regarding their Dallas rental properties.
“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. “There are a lot of economic indicators supporting that viewpoint, not the least of which is America’s continual shift toward renting.”
The report that was released shows a 5.4% increase of average monthly rates for the first quarter in 2015 from the same time period in 2014. All ten of the US rental regions have experienced an uptick in year over year rental rate hikes, with the Pacific and Northeast regions experiencing the highest gains, and Mid-Atlantic gaining the slowest.
Vacancy rates through the end of the first quarter were also studied showing the average national vacancy rate rising slightly from the previous year. Texas still has the lowest vacancy rate of 3.6% compared to a 5.7% national average.
Analyzing the nation’s saturation rate–the percentage of single family homes that are rented as a share of all single family homes–found 23.4% of all single family homes nationwide are used as rental properties.
Dallas property managers should view this as good news as the demand for rentals increases, the rental rates also increases which improves their overall cash flow. With Texas having such a low vacancy rate, reduced vacancy times experienced at rental properties will also increase property managers bottom line.
Real Property Management Dallas-Fort Worth is the leading company for property management services in the metroplex. With over 25 years experience in the industry, they provide investors with accurate and up-to-date information about market trends and resources available. For more information on their company, visit realpropertyrpm.com