Total rental rose 8.2% when comparing December 2013 to December 2012. Rent per sqft offered a tempered gain during this 13-month comparison period, posting only a .2% gain. With annual inflation rate of 1.5% realized across this period, this means a real gain of 6.7% in rent, but a 1.5% drop in real return on rent pers sqft for the same period.
This data, available through the link above as an Excel data set, utilizes NTREIS data on leased properties in Abilene, Texas. This data provides 13 months of data, allowing the user to look across these months at the movement of rental prices, days on market and inventory available town wide and by zip code.
According to NTREIS, there were 69 leased units in December 2013 compared to 75 a year ago. This decline was felt by lessees in Abilene ISD; renters in the Wylie ISD saw no change in availability period to period. During this 13 month period, December 2013 had the least amount of completed leases. These units required higher deposits with a 4% increase in security deposits and 5% increase in pet deposits.
All leased units saw an increase in time on the market. The smallest increase was realized in 79606; homes in this zip code saw a 2.5% gain in time on the market increasing from an average of 42 days on market in December 2012 to an average of 43 days on market in December 2013. The largest increase was realized in 79602; homes in this zip code saw a 54.9% gain in time on the market increasing from an average of 24 days on market in December 2012 to an average of 41 days on market in December 2013.
If you have questions about this data, its assemblyor interpretation, please contact us. We welcome the opportunity to discuss how this data might be employed to help you make informed choices regarding investment property in Abilene.