LA QUINTA, CA-In 2012, average rental prices for singlefamily residences in La Quinta, California increased more than anywhere else in the country, according to rental pricing analyses conducted by RentRange LLC. La Quinta, whose population is just under 38,000, saw average rents increase by $932 or 35.75%, from December 2011 to December 2012.
Six other California cities are included in the Top 10 markets with the greatest rental price increases for singlefamily residences in 2012. Three, like La Quinta, are in Riverside County’s Coachella Valley. Two are in San Diego County and one is in Orange County. The other three cities in the Top 10 markets with the greatest rental price increases for singlefamily homes are Harker Heights, Texas; Sarasota, Florida; and Mableton, Georgia.
The cities on this Top 10 list were determined by comparing RentRange’s rental market data from December 2011 to rental data from December 2012. The homes surveyed were three-bedroom single-family residences, in cities with populations of 25,000 or more.
RentRange analyzed information from the industry’s database of singlefamily rental information to determine the top 10 markets with the greatest rental price increases for three-bedroom single-family residences. The company’s database is comprised of rental records dating back to 2008. It consists of information collected from a national network of RentRange’s strategic partners, which include rental search portals, rental data aggregators, residential property managers, real estate investment enterprises, real estate management software providers, and the Multiple Listing Service.
“Rental price movement over time is one of many important metrics that investors utilize when evaluating suitable marketplaces. As popular markets become saturated with investment activity it is important for purchasers to leverage specialized rental market intelligence to identify attractive markets that competitors have yet to notice,” says Walter Charnoff, RentRange’s founder and CEO. “RentRange macro data helps them uncover the next hot markets and stay ahead of the curve.”