SFR rental prices in the Deltona-Daytona Beach-Ormond Beach MSA (Volusia and Flagler Counties) reportedly rose 15.7% year-over-year in Q2 and returned a 10.2% gross yield.
PALM COAST, FL – September 13, 2016 – A list of the top 25 Metropolitan Statistical Areas (MSA) with the greatest second quarter year-over-year single-family rental (SFR) price increases included five Florida MSAs. Deltona-Daytona Beach-Ormond Beach, which includes all of Volusia and Flagler counties, ranked #4. This according to RentRange, a provider of market data and analytics for the single-family rental industry, and as reported in HousingWire.
The Q2 Average Gross Yield (AGY) for Deltona-Daytona Beach-Ormond Beach was 10.2% according to the RentRange report. The Q2 rental increase follows a Q1 increase of 17.2%.
Florida MSAs comprised three of the top five on the list:
- #1 Cape Coral-Fort Myer, with rents rising 26.1% in Q2, providing an Average Gross Yield of 9.14%.
- #2 New Orleans-Metairie-Kenner, with rents rising 20.6%, with an AGY of 11.78%
- #3 Seattle-Tacoma-Bellevue, with rents rising 16.6%, with an AGY of 6.18%
- #4 Deltona-Daytona Beach-Ormond Beach, with rents rising 15.7%, with an AGY of 10.2%
- #5 Port St. Lucie, with rents rising 15.2%, providing an Average Gross Yield of 10.28%.
- #18 Naples-Marco Island, where rents rose11.5%, providing an AGY of 8.07%
- #19 Palm Bay-Melbourne-Titusville, with an 11.3% rent increase and a 10.76% AGY