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Thread: 2015 rental market for entire houses - update?

  1. #1
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    Default 2015 rental market for entire houses - update?

    I've been looking through rentfaster at some listings for full house rentals, and it seems that there is a massive spread.

    Does anyone have a course of statistics, or even opinions, on what places are actually renting for?

    The market I'm specifically looking at would be upgraded homes/infills in "close in" communities. So far it looks like the listings are between 2500-5000/mo for that type of place. Are those people at the high end just on crack, or what?

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    There's a lot of supply. Prices will come down.

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    My third-hand understanding from an inner-city builder that has several new builds that aren't selling is that if (/when) they decide to rent the houses, the monthly rental rate is somewhere around the sale price divided by $300-325...

    $800k house = ~$2,400 - $2,700

    $1.2MM house = ~ $3,700 -$4,000

    $1.5MM house = ~ $4,200 - $5,000


    I don't know what he was basing this on, like if it is what they need to cover their carrying costs, but it seems to make some sense and jive with what you say you're seeing.

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    I know a house on crescent road was going for $7,500/month rent and it's probably a $2.5M house, so I can easily see how the rental price range could be very wide.

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