Rental Statistics Report Released Shows Rent, Vacancy, and Saturation Rates All on the Rise
Real estate investors throughout the Brevard County – whether it be beachside or from Palm Bay to Titusville – 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 rental properties.
“Rental rates are up throughout the country, and we expect that trend to continue in the near future,” said Lukas Krause, CEO 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 in average monthly rates for the first quarter in 2015 from the same 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. Vacancy rates through the end of the first quarter were also studied showing the average national vacancy rate rising slightly from the previous year.”
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 are used as rental properties.
Real estate investors in Melbourne, Palm Bay, Cocoa, Titusville, etc. should view this as good news as the demand for rentals increases, the rental rates also increase which improves their overall cash flow. With Florida having such a low vacancy rate, reduced vacancy times experienced at rental properties will also increase investors’ bottom line.
Real Property Management Brevard is a leading company for property management services in the area. They specialize in property management and provide investors with accurate and up-to-date information about market trends and resources available. For more information on their company, please visit www.rpmbrevard.com .