Single Family Home Rent Rates Rise 12.8 Percent in San Antonio
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™, released their quarterly rental housing statistics that show rental market trends in San Antonio.
During the second quarter of 2015, the companies found that the average monthly rent for single-family homes in San Antonio was $1,312 representing a 12.8 percent year-over-year increase. Nationally, home rental rates now exceed $1,320, up 3.3 percent since just last quarter and representing a 6.1 percent year-over-year increase. The rental market data was limited to three-bedroom single-family homes in the U.S.
“Rental rates are up in the San Antonio area, and we expect this trend to continue through the next quarter,” said Rudy Huylebroeck, Owner/President/REALTOR® of RPM Campanas, a San Antonio franchisee of Real Property Management. “Americans are increasingly shifting toward renting, which is one of the more supportive claims behind San Antonio’s rising rental rates. More and more people decide to rent versus to buy a home, especially the Millennials.”
The report also examined vacancy rates in San Antonio, the percentage of homes considered unoccupied, through the end of the first quarter. The San Antonio rate fell to 6.09 percent, down 1.8 percent year-over-year. The national rate fell slightly to 5.46 percent through June, down .12 percent from a year ago.
Lastly, the report 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. In San Antonio, 23.1 percent of single-family homes are rented, according to the data.
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.