When compared to the previous month, rentals in Abilene ISD leased in April mirrored the prior month by leasing in 27 days. In Wylie, however, the days on the market were cut in half. Homes in Wylie ISD remained on the market 23 days in March 2015, but leased in half that time in April 2015.
This overview utilizes NTREIS data on leased properties in Abilene, Texas. This data provides 13 months of data spanning March 2014 to April 2015, allowing the user to look across these months at changes in rental prices, days on market and inventory available town wide, both by school district and by zip code. The percentage changes calculated in this table compare the current month’s statistics to an average of the last 12-months and the data from the same month in the 2014.
April 2015’s average rent of $914 represented a .4% increase when compared to the 12-month average of $917. The month’s average rent became part of three-month downward loss in rent. It is important to put this downward trend in context; February’s average rent of $992 represented at 13-month peak for the period assessed.
\On a per-square-foot basis, Abilene area rents dropped by 1¢ and matched the prior 12-month average. When analyzed by zip code, north side rents in 79601 and 79603 rose relative to their 12-month average and the prior month. Southside rents fell relative to the prior month and rents in 79605 and 79602 fell below their 12 month average.
As witnessed in the prior month, per-square-foot rents in Abilene ISD remained flat at their 12 month-average of 68¢. Rentals in the Wylie ISD experienced the same trend where April 2015 rents per square-foot matched the 12-month average. Looking at rental data from April to April, one sees a 4¢ gain in per-square-foot rents in both districts, but a consistent, 18¢-per-square-foot separation between Wylie ISD rentals over Abilene ISD rentals during both periods.
April 2015, units leased totaled 98, which is a leased inventory 11.5% below inventory in April 2014. Both Wylie ISD and Abilene ISD experienced a drop in leased inventory, but Wylie’s percentage drop was more pronounced that that experienced by homes in the Abilene ISD.
On average, Abilene homes were empty roughly one month or 31 days over the last 12 months. In April 2015, Abilene-area homes leased 6 days faster than this average. With average monthly rent of $914, this represents found income for landlords of $176.82 per month.
When assessed by zip code and by school district, only homes in 79603 leased slower than the prior, 12-month average. Wylie ISD homes rented 15 days faster than homes in AISD. In Wylie ISD, homes leased, on average, in 12 days while AISD homes took 27 days to lease.
According to NTREIS, 98 single family homes were leased April 2015. With 94 units leased at, on average, at 71¢/sqft and sized at 1,319 square feet, these leases are estimated to deliver a April 2015 value of $92,112 to the Abilene economy. Considering the coming 12-months and the leases executed during April 2015, these leases potentially account for an $1,105,351 annual contribution to Abilene’s economy.