Last week, we took a look at the Goodyear, AZ rental market and the subdivision of Canyon Trails.
This week, we travel down the I-10 a bit to the the East and will take a look at Avondale, AZ and the subdivision of Coldwater Springs.
Coldwater Springs is a subdivision that is roughly located south of I-10 and north of Lower Buckeye Road. Coldwater Springs is east of the Agua Fria River Rd. and west of Avondale Road.
All of our Avondale rental market figures are taken from closed rental data from the Arizona MLS from 2013-2015.
We will focus on the rental homes that rented between January and October and break down the resulting rental data by year.The rental property data we will look at in this objective review of the Avondale and Coldwater Springs rental market focuses on closed, unfurnished rental properties.
The rental market numbers in Avondale and Coldwater Springs are very similar. Attached is our summary chart.
The average rental home price gain for the above time period in Avondale, AZ is a very respectable 9.5%. For Coldwater Springs, the three year rental price gain mirrors Avondale as a whole at 9.2%. Both areas of comparison had less of a gain when compared to rental price per square foot (6.8%).
To compare the Avondale rental market gains with the overall Phoenix area rental market gains in 2015 check out our post from September 21.
The rental market inventory decrease over the last three years in Avondale was very significant at 42%. The decrease in Coldwater Springs was even more drastic at just over 50%