Real Property Management & RentRange Release Q3 Report on Rental Rates
HONOLULU – October 13, 2015 – Honolulu rental home rates are rising, according to Real Property Management Alliance, part of the nation’s leading property management franchise organization, and RentRange, the nation’s leading provider of Rental Market Intelligence™.
In their third quarter “Rental Statistics Report,” the companies found that the average monthly rent for single-family homes in Honolulu was $2,681, representing a 7.9 percent year-over-year increase. Nationally, home rental rates experienced a 5.7 percent increase since last year and the median now exceeds $1,360. The data used rents on three-bedroom single-family homes only to insure comparability across markets.
“Given the economic factors that contribute to Honolulu’s tight housing market, we expect rental prices will continue to rise,” said Kawika Burgess, President and CEO of Real Property Management Alliance, a Honolulu franchisee of the Real Property Management franchise system.
As leaders in the rental housing industry, the Real Property Management franchise and RentRange have an ongoing strategic business relationship. Real Property Management offices rely on RentRange’s proprietary rental housing data to provide landlord customers with accurate, current information about local rental properties and rental markets.