On the last post, we took a look at the city of Buckeye, AZ and the Sundance subdivision's 2013 to 2015 pertinent rental market figures.
This week we will take a look at the Tolleson market and a subdivision in Tolleson. Tolleson city limits are roughly between McDowell Road and Buckeye Road north/south between 83rd and 99th Avenues east/west. They extend from Van Buren St. to Buckeye road from 99th Ave/107th Ave east/west and 83rd ave/75 Ave east/west.
All figures are taken from closed rental data from the MLS. The break down will focus on the subdivision of Farmington Glen.
We will focus on the rental homes listed in quarters 1 and 2 and break down the resulting rental data by year.The rental property data we look at from Tolleson and Farmington Glen focuses on closed, unfurnished rental properties.
The rental market numbers for Tolleson in this study show nice gains as detailed below.
Overall, average rental prices in both Tolleson and Farmington Glen have increased during this 2013-2015 time period. The average rental price in Tolleson has gone up 10% in three years. In Farmington Glen, the increase in rent in this time frame has been 16%.
Rental property inventory decrease in these areas has been pretty drastic with a 55% decrease in Tolleson rental property inventory from 2013-2015. In this same time frame, Farmington Glen rental property has remained stable but this could be due to the small sample size.
Both the Farmington Glen subdivision and the Tolleson,AZ rental properties show a very sharp drop in the Average Days on Market from 2013 to 2015.
The Tolleson rental market is tight for renters but a great option for property investors.
