Last week, we took a look at the city of Peoria, AZ and the Fletcher Heights subdivision's 2013 to 2015 pertinent rental market figures.
This week, we will look at rental market statistics in the City of Goodyear, AZ. The break down will focus on the subdivision of Wildflower Ranch. We will analyze rental market data from 1st quarter 2013 and 2014 and compare it with data from 1st Quarter 2015.
Let's take a look at the data.
The rental market numbers for Goodyear are consistent with what we have been experiencing with the market as a company. Average rental prices in both Wildflower Ranch and Goodyear have increased from 2013-2015 and rental property inventory has decreased in that time frame.
In Goodyear, 1st Quarter rental property rent rates have increased about 13% from 2013 to 2015. 1st Quarter Rental Property inventory in Goodyear, AZ has decreased roughly by 25% in the same time frame.
The sample size is in Wildflower Ranch is small so we need to take that into account but we still see parallels in this micro-market. Rental property closing prices in Wildflower Ranch have gone up about 11% from 2013 to 2015. Rental property inventory has taken a nose dive here from 29 in 1st Quarter of 2013 to 12 in this year's 1st Quarter.