New Rental Data for 70 Metro Areas

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New Rental Data for 70 Metro Areas

Nate Garrett
Property Manager · Tulsa, OK · Member since 2008 · 186 posts · 208 votes

The National Association of Realtors just released some very useful rental data for 70 metro areas showing information like the % change of income for renters from 2009-2014, % change in number of renter households, and % change in number of owner households.

For example, in Tulsa, Oklahoma, rents increased by 11.03% from 2009 - 2014 while renter income increased by 17.05%. The number of renter households increased by 5.69% while the number of owner households decreased by 11.59% during the same time frame (a lot of people moving back in with family or sharing housing!).

Here is a link to the original article and tabular data.

Edit: I tried to post the tabular data but the forum doesn't display tables correctly. If anyone knows how to post tables to the forum and maintain the formatting, please PM me.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y

@Nate Garrett

  thank you... some interesting data.. need to be north of 15% rent increase to be above national average... the Pacific northwest which is really under the radar was a top performer.

and look at the income growth in Utah... and we know why that is... most of the Gurus marketing arms are centered there and we know how much those guru's are making off of US folks wanting to crack into Real Estate rich's.... :)

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  • Robert Warren
    Real Estate Investor · Ridgway, CO · Member since 2014 · 76 posts · 10 votes
    11y

    @Bill S.

    Thanks for the observations.  What is the rust belt?
    0Reply
  • Derek B.
    Greensboro, NC · Member since 2014 · 212 posts · 143 votes
    11y

    @Robert Warren  geographic region characterized by declining mfg and industrial  jobs, upstate new york, through Penn, Ohio, Wv, Indiana, etc. the geography varies depending on who you ask.  Not a big fan of Wikipedia but their definition and background of the past industry in the Rust Belt is decent.

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  • Daniel Mohnkern
    Investor · Titusville, PA · Member since 2015 · 298 posts · 150 votes
    11y

    That's pretty accurate (the rust belt thing). My community in Pennsylvania used to be hopping until all the manufacturing closed up and moved to Mexico and China. Now the buildings are sitting there rusting away. Thank you, politicians.

    0Reply
  • Robert Warren
    Real Estate Investor · Ridgway, CO · Member since 2014 · 76 posts · 10 votes
    11y

    @Derek B.

    Thanks, always learning something new here at BP.

    0Reply
  • Dmitri L.
    Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
    11y
    Originally posted by @Nate Garrett:

    The National Association of Realtors just released some very useful rental data for 70 metro areas showing information like the % change of income for renters from 2009-2014, % change in number of renter households, and % change in number of owner households.

    For example, in Tulsa, Oklahoma, rents increased by 11.03% from 2009 - 2014 while renter income increased by 17.05%. The number of renter households increased by 5.69% while the number of owner households decreased by 11.59% during the same time frame (a lot of people moving back in with family or sharing housing!).

    Here is a link to the original article and tabular data.

    Edit: I tried to post the tabular data but the forum doesn't display tables correctly. If anyone knows how to post tables to the forum and maintain the formatting, please PM me.

     Interesting link, thanks! 

    I would advise anyone looking at this to read the fine print though. Not all of those numbers represent exactly what is implied by the label..

    Notes:
    *The Median Household Income for renters 25-44 years old for 2014 was projected assuming 2% growth from 2013 estimates.
    **Mortgage payment is based on 90% loan-to-value ratio and the first-time homebuyer purchases a lower priced home equal to 85% of the median value for single family homes. The monthly mortgage payment includes payment for the upfront mortgage insurance premium, the monthly premium, and payment for real estate taxes. Computations do not take into account the interest andreal estate tax deduction.
    ***Median Home Price Q4 2014 is calculated based on the sales price of the Existing Single-Family Home

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