Orlando among top metros for rental housing growth
Orlando among top metros – Online real estate investment management firm HomeUnion has identified the 10 metros with the strongest investment home rental growth in the U.S., and Orlando is on the list.
To rank the metros, HomeUnion looked at 44 single-family rental housing markets nationwide. San Jose, Calif., topped the list and Orlando came in at No. 2.
“It’s no surprise that San Jose leads the U.S. with anticipated rental growth of 7.3 percent, due to healthy job growth and increasingly out-of-reach prices for traditional housing,” said Steve Hovland, manager of research services for HomeUnion. “Orlando’s ranking of No. 2 on our list seems more noteworthy, but not surprising given the furious pace of economic growth in the area over the past two years. Tourism has fueled the region’s booming economy: Orlando has welcomed more than 60 million visitors, as well as job seekers, annually.”
Here are the top 10 metros, their forecast year-end 2016 rents and 2016 rent growth forecast:
- San Jose, Calif., $3,459 7.3 percent
- Orlando, $1,348, 6.1 percent
- Seattle, $4,191, 5.9 percent
- San Diego, $2,307, 5.7 percent
- San Francisco, $4,451, 5.4 percent
- Denver, $1,834, 5.4 percent
- Charlotte, N.C., $1,133, 5.3 percent
- Austin, Texas, $1,787, 5 percent
- San Antonio, Texas, $1,165, 4.8 percent
- Portland, Ore., $1,879, 4.8 percent
Source: Orlando Biz Journal