February 9, 2014

Rental Comp Data for February 2014

I last reviewed rental comp prices for our properties 6 month ago in  Rental Comp Data for August 2013

Here are the new numbers for February 2014 :


A B C D E

3bed 3bed 1bed 1bed 3bed

house house apt apt house
10% $700 $700 $390 $400 $950
20% $795 $778 $425 $438 $950
median $985 $900 $485 $478 $1,097
80% $1,100 $1,050 $525 $533 $1,225
90% $1,195 $1,150 $575 $610 $1,295
 # prop                22               38               23               50               53
 dist              0.4             0.8             0.6             1.5             0.4


And the trends:


A B C D E
Nov-11 $895 $875 $495 $495 $1,095
Jan-13 $900 $995 $510 $460
Aug-13 $905 $925 $500 $480 $1,095
Feb-14 $985 $900 $485 $478 $1,097
6 month change 8.8% -2.7% -3.0% -0.4% 0.2%

(note that Rentometer changed methodologies between January 2013 and August 2013 )

Unfortunately it looks like the rents are trending downward in most locations.    B,C & D are all negative.    E is pretty flat.    The one house 'A' is up 8.8% which is a pretty hefty increase and thats actually pretty good for us since its quite possible that one will be vacant before too long since we've had problems with that renter not paying rent in a timely manner.


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