Des Moines Rental Rates Rise 21.2 Percent Year-Over-Year, Real Property Management and RentRange Reveal
Rental Market Leaders Release Q2 Local Report on Rental, Vacancy and Saturation Rates
Des Moines, Iowa – July 21, 2015 – Real Property Management Des Moines Select, 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 Statistics Report,” which shows Des Moines rental home rates are rising.
During the second quarter of 2015, the companies found that the average monthly rent for single-family homes in Des Moines was $1,228, representing a 21.2 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 Des Moines area, and we expect this trend to continue through the next quarter,” said Joe Schafbuch (President/Owner), a Des Moines franchisee of Real Property Management. “Americans are increasingly shifting toward renting, which is one of the more supportive claims behind the Des Moines rising rental rates.”
The report also examined vacancy rates in Des Moines, the percentage of homes considered unoccupied, through the end of the first quarter. The Des Moines rate fell to 2.22 percent, down .10 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 Des Moines. This is the estimated percentage of rented single-family homes as a share of all single-family homes. In Des Moines, 16.97 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.
For more information, visit: www.rpmiowa.com
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 franchises provide 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.