Wednesday, February 10, 2016

2015 Pensacola Rental Market Statistics

2015 Pensacola Rental Market Statistics
Quick look at the Pensacola, FL area rental market statistics!

As we head into a busy 2016 spring rental market, we look back at the rental market over the few years in our area.
Pensacola area rental statistics for 2011- 2015

Pensacola, Florida area rental statistics snapshot from 2011 through 2015. These statistics are based on properties rented in Escambia and Santa Rosa Counties including the cities of Pensacola, Pace, Milton, Molino, Cantonment, Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre area and compiled through Pensacola MLS. 

Here are a few facts about the Pensacola Rental Market:

Average rental rates and supply/ demand
  • The average rental rate increased 4% from $1,037 in 2014 to $1,081 in 2015. 
  • The average rental rate in Pensacola has risen nearly 13% since 2011.
  • There was a slight increase in overall inventory from 4,279 in 2014 to 4,342 in 2015 but the total number of rental properties rented in the Pensacola area has decreased by 11% since 2011. 
  • Economists predict that rental rates will continue to increase slightly over the next year. 
  • There is a large demand for single family section 8 housing as availability of landlords accepting the section 8 voucher has decreased. 
Areas of high demand for rental properties included
    • the Beulah area of Northwest Pensacola, FL 32526 due to the influx of Navy Federal Credit Union employees
    • Downtown Pensacola and East Hill due to the growth in the downtown area and desire to be near nightlife
    • Gulf Breeze, FL and Pace, FL due to top rated school systems 
Common requested amenities from tenants

Despite the tightened supply, we have noticed that more renters are searching for upgraded or newly built homes with stainless steel appliances, remodeled kitchens, granite and other solid surface upscale counter tops, and of course fenced backyards. 

A recent apartments.com study indicated that over 70% of renters have pets; while there's no way to validate this statistic in our area, I would safely say over 2/3 of renters who contact our office do have at least one pet.  Being pet friendly reduces your time on the market and increases your potential rental rates. 

Realty Masters rented 496 homes in the Pensacola area in 2015
Pensacola Leasing Agents & Rental Homes! 
Realty Masters leases twice as many homes as any other management company in the area

And one of our favorite statistics:  Realty Masters leased over 496 properties, with an average rent of $1,000 and leased twice as many homes as any other property management company! During 2015, we rented our homes with an average of 27 days on the market and a median of 22 days on the market.

As the leader in Pensacola Property Management, we are the experts on the Pensacola area rental market and can help you locate viable income producing properties.  

If you are looking to purchase investment property or have a Pensacola area rental that you need leased or managed, give our office a call so our agents can assist you. 

Have questions about the Pensacola area rental and real estate market? Post them below, email me, visit our website, or give us a call! 

Thanks and have a great day,
Nicole St. Aubin, Broker Associate
Realty Masters of FL~ #1 in Pensacola Property Management
4400 Bayou Blvd. #58B, Pensacola, FL 32503
Call us at (850) 473-3983

Over 45 Pensacola Rental Homes at www.PensacolaRealtyMasters.com

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