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™.
In their third quarter “Rental Statistics Report”, the companies found that the average monthly rent for single-family homes in San Antonio was $1,306 representing a 4.6 percent year-over-year increase. Nationally, home rental rates experienced a 5.7 percent increase since last year and the median now exceeds $1,360. The data used rents on three-bedroom single-family homes only to insure comparability across markets.
“Given the economic factors that contribute to San Antonio’s housing market, we expect rental prices will continue to rise,” 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 6.06 percent through the end of the third quarter. This represents a .15 percent decrease since last year. The rate fell to 5.31 percent for the United States, a .24 percentage point decrease from 2014.
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.
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.
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