As 2016 gets into full swing, many prognosticators have offered their predictions for the rental market this year. We’ve filtered through them to bring you these national trends.
- Demand for rentals will continue to increase. This is particularly true for single family homes as more single renters begin to form households .
- Vacancy rates for single family rental homes – already down to 5.1% in 2015 from 10.7% in 2009 – will stabilize but may continue a slight decline.
- Increased demand and tightening supply will put added pressure on rental rates which will continue to outpace inflation.
These national rental market trends for 2016 demonstrate that it’s still a great time to be invested in real estate. Our friends at Middle Georgia CEO published a new report on the trends in RPM Vesta’s more immediate community that show that it’s a good time to be a renter and a landlord in Georgia! The Peach State continues to be one of the most affordable places to live in the nation, and rental rate growth is outpacing growth nationally.
For the full report, click here.