Rental Housing Growth in San Jose, Calif., Forecast to Lead the Nation in 2016; San Jose, Orlando and Seattle topped the list of 44 markets in HomeUnion’s new study

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Rental Housing Growth in San Jose, Calif., Forecast to Lead the Nation in 2016
San Jose, Orlando and Seattle topped the list of 44 markets in HomeUnion’s new study.

 

IRVINE, Calif., March 15, 2016 — HomeUnion, an online real estate investment management firm enabling value investing in residential real estate, has identified the 10 metros with the strongest investment home rental growth in the United States. HomeUnion analyzed 44 single-family rental (SFR) housing markets nationwide for the study.

“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,” explains Steve Hovland, manager, research services for HomeUnion. “Orlando’s ranking of No. 2 on our list, with a forecasted rent increase of 6.1 percent, 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.”

The top 10 metros with the strongest investment home rental growth are:

Metro Year-End 2016 Rents    2016 Rent Growth Forecast
San Jose, Calif.

$3,459

7.30%

Orlando

$1,348

6.10%

Seattle

$4,191

5.90%

San Diego

$2,307

5.70%

San Francisco

$4,451

5.40%

Denver

$1,834

5.40%

Charlotte, N.C.

$1,133

5.30%

Austin

$1,787

5.00%

San Antonio

$1,165

4.80%

Portland, Ore.

$1,879

4.80%


“Additional standouts on our list include Charlotte and Austin, two metros that are bursting at the seams in terms of economic growth. Charlotte has one of the fastest-growing populations nationwide, which has sent both rental and investment demand soaring for investment homes. We expect rents to rise 5.3 percent in Charlotte this year,” notes Hovland. “Austin’s continued dominance as a leading tech hub and employment center helped the metro earn a ranking of No. 8 on our list, with rents projected to rise 5 percent through year’s end.”

For a list of metros with the worst projected rental growth in 2016, contact Stacey Corso at [email protected].

About HomeUnion
HomeUnion is an online real estate investment management firm, bringing value investing to the individual investor in residential real estate. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in single-family rental (SFR) properties. The company uses a combination of data-driven proprietary analytics to incorporate over 120M homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves 17 locations. HomeUnion’s role spans the lifecycle of the investment transaction: from identifying sound investments; handling all aspects of acquisition; maximizing income; protecting asset value; and selling it when the time comes.

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