San Antonio rental home rates are rising, according to Real Property Management Campanas, part of the nation’s leading property management franchise organization, and RentRange, the nation’s leading provider of Rental Market Intelligence™.
The quarterly “Rental Statistics Report” found that the average monthly rent for single-family homes in San Antonio was $1,315, representing a 3.9 percent year-over-year increase. Through the first quarter of 2016, the companies found that home rental rates increased nationally from $1,305 a year ago to $1,373 – a 5.2 percent increase. The data used rents on three-bedroom single-family homes only to insure comparability across markets.
“We expect rental prices will continue to rise in San Antonio, considering the low vacancy rates, together with the growing population in the San Antonio area. Rental properties are renting very quickly and in many cases, we have multiple applications.” said Rudy Huylebroeck, Owner and President of RPM Campanas, a San Antonio franchisee of the Real Property Management franchise system.
San Antonio vacancy rates, the percentage of homes considered unoccupied, fell to 6.15 percent through the first quarter. This represents a 1.6 percent decrease since last year. Nationally, the rate fell to 5.31 percent, a slight decrease from the 5.68% rate in March 2015. Rental demand is growing despite rising rents.
The report also analyzed the saturation rate in San Antonio. This is the estimated percentage of rented single-family homes as a share of all single-family homes. Results showed that in the San Antonio area, 23.1 percent of single-family homes are rented. Nationally, rentals now represent 25.33 percent of three bedroom single family homes compared to a 23.84 percent rate a year ago.
As leaders in the rental housing industry, Real Property Management and RentRange have an ongoing strategic business relationship. Real Property Management offices rely on RentRange’s proprietary rental housing data to provide landlord customers with accurate, current information about local rental properties and rental markets.
For more information, visit: www.rpmcampanas.com.
About Real Property Management
Real Property Management is a franchise organization owned by Property Management Business Solutions, LLC, a privately held corporation based in Utah. With over 25 years of industry expertise, Real Property Management provides full-service residential property management for thousands of investors and rental home owners from more than 260 independently owned and operated offices throughout the United States and Canada. For more information about Real Property Management, property management services or franchising opportunities, visit https://www.realpropertymgt.com/ or www.propertymanagementfranchise.com/.
About RentRange
RentRange is the nation’s leading provider of Rental Market Intelligence™ to the financial services and real estate industries. It delivers rental data and analytics as well as rent-based valuation solutions for single-family properties, with products that include on-demand automated rent valuation reports and subscription-based data available. RentRange clients include institutional investors in residential real estate; property managers and landlords; mortgage lenders; Wall Street firms and rating agencies. RentRange was founded in 2007 and is located in the greater Denver area. For more information please visit rentrange.com.
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