Greater Des Moines Home Rent Rates Rise 20 Percent, Real Property Management and RentRange Findings Reveal
Rental Market Leaders Team Up to Release Local Rental Statistics Including Rental, Vacancy and Saturation Rates
Greater Des Moines, Iowa – (June 9, 2015) – Real Property Management in the Greater Des Moines area, part of the nation’s leading property management franchise, and RentRange, the nation’s leading provider of Rental Market Intelligence™, together release rental housing statistics that show Greater Des Moines rental home rates are rising.
Through the first quarter 2015, the companies reveal that the average monthly rental rates for single-family homes in Greater Des Moines was $1,147 representing a 20 percent year-over-year increase. Nationally, home rental rates rose 5.4 percent year-over-year to $1,286. The rental rates market data was limited to three-bedroom single-family homes in the U.S.
“Rental rates are up in the Des Moines area and we expect that trend to continue in the near future,” said Joe Schafbuch (Co-Owner/President), a Real Property Management Des Moines Select franchisee of Real Property Management. “There are a lot of economic indicators supporting that viewpoint, not the least of which is America’s continual shift toward renting.”
Real Property Management and RentRange also looked at vacancy rates in the Greater Des Moines area, the percentage of homes considered unoccupied, through the end of the first quarter. The Greater Des Moines rental rates rose to 2.3 percent, up 3.2 percent year-over-year. The national rental rates rose slightly to 5.7 percent, up .09 percent year-over-year.
Lastly, the statistics include the saturation rate in the Greater Des Moines area. This is the estimated percentage of rented single-family homes as a share of all single-family homes. In Greater Des Moines, 16.3 percent of single-family homes are rented, according to the data.
“Higher rental rents and the availability of detailed rental market data create unprecedented opportunities for investors to make good decisions,” said Wally Charnoff, CEO of RentRange. “Along with professional property management, such information reduces the risk of investing in a broader range of geographic areas.”
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.
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/.
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.