Encouraging News for SFR Investors
“As we begin 2017, it continues to look bright for single-family rental investors,” said Wally Charnoff, chief executive officer, RentRange Data Services. “Compared to the Q3 2016 change in rent, we are seeing the percentage change begin to lessen while rents continue to increase, which should ultimately stabilize demand, keeping vacancy rates down. It remains important for investors to look at stability within a market, focusing on the market’s activity over time to ensure there is a good balance — low historical volatility with a current upswing.”
The Q4 2016 RentRange® data identified rental rate increases in areas like Cape Coral, Florida and Portland, both of which moved up the list into the top five, as well as newcomers including McAllen, Texas; Denver, Boston, Nashville and Miami. While rents remain high in the Bay Area, San Francisco dropped several positions, indicating the year-over-year rent change was not as significant as seen in past years. Comparatively, San Jose made the list as a new addition in Q4 2016.