On the last post, we took a look at the city of Peoria, AZ and the Arrowhead Ranch subdivision's 2013 to 2015 pertinent rental market figures.
This week, we will move the rental market comparison to Buckeye and look at how rental market statistics from 1st and 2nd Quarters 2013-2015 in Buckeye, AZ compare with a different subdivision within Buckeye.
All figures are taken from closed rental data from the MLS. The break down will focus on the subdivision of Sundance.
Sundance is a subdivision that is roughly between McDowell road and Yuma north/south and Watson road and 223rd east/west.
We will focus on the rental homes listed in quarters 1 and 2 and break down the resulting rental data by year.The rental property data we look at from Buckeye and Sundance focuses on closed, unfurnished rental properties.
The rental market numbers for Buckeye in this study show some pretty good gains as detailed below.
Overall, average rental prices in both Buckeye and Sundance have increased during this 2013-2015 time period. The average rental price in Buckeye has gone up 16% in three years. In Sundance, the increase in rent in this time frame has been 7%.
Rental property inventory decrease in these areas has been pretty drastic with a 41% decrease in Buckeye rental property inventory from 2013-2015. In this same time frame, Sundance rental property inventory has declined by a whopping 55%.
Both the Sundance subdivision and the Buckeye,AZ rental properties show a very sharp drop in the Average Days on Market from 2013 to 2015.
The Buckeye rental market is very under rated and all of the rental market data indicate that times have been golden for rental property investors here over the last three years.