MARKET & TRENDS
RENT TRENDS
SPONSORED CONTENT
Quarterly Rent Trends in 10 Major U.S. Metros DUE DILIGENCE AND ASSESSMENT OF CURRENT MARKET CONDITIONS IS CRITICAL TO MAKING SUCCESSFUL REAL ESTATE DECISIONS.
by Will Keyser
n this rent report, we analyze how rent prices for three-bedroom single-family rentals (SFRs) in 10 major
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U.S. metros have changed between Q1 and Q2 of 2022.
METHODOLOGY Here’s how we conducted the report: • Geography: The scope of this report is 10 major metros across the U.S. • Property type: It included three-bedroom single-family rentals with any bathroom count. • Analysis: Average rents were analyzed quarter-over-quarter for each city. • Data: New rent data was collected at the beginning and end of each quarter, excluding outliers below $500 and above $10,000.
ANALYSIS Rentometer’s data and analysis for the selected cities is presented to the right.
TAKEAWAYS Average rent prices in almost all metros analyzed increased from first quarter 2022 to second quarter 2022. Of the cities analyzed, Cincinnati, Ohio, saw the highest rent price increase at 18%. Although rent prices in Los Angeles decreased from the previous quarter by 2%, it had the highest average rent price in second quarter 2022 at $5,046. As always, thorough due diligence and assessment of current market conditions is critical to making successful real estate decisions. Whether you are setting your rent or evaluating an investment property opportunity, we recommend identifying sources of reliable market information and contacting local professionals familiar with your target rental markets. •
Rentometer uses proprietary technology and data to provide a thorough rent comparison analysis in seconds. With Rentometer, the market rate no longer has to be a mystery. By analyzing recent rental listings in the surrounding neighborhood, Rentometer can calculate rent prices based on location and apartment size, and provide a market rate estimate—or lets you know if you’re paying too much for your rent. For the rental property business, we also offer rental comparisons for real estate agents and landlords, and portfolio batch analysis for aggregate reporting on a list of many apartments and properties. We can help you bring in prospective tenants too—with our free rental listings, apartments currently for rent will show up with a distinctive marker on the Rentometer widget and map.
36 | think realty magazine :: november – december 2022
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