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| Daren Blomquist |
IRVINE, CA — ATTOM Data
Solutions, the nation’s leading source for comprehensive housing data and the
new parent company of RealtyTrac, released its Q3 2016 Single Family Rental
Market Report, which found that average single family rental returns dropped to
a nine-year low for homes purchased so far in 2016 among 473 U.S. counties
analyzed for the report.
The average annual gross
rental yield — monthly rent, annualized, divided by median home price — among
the 473 counties was 8.7 percent for properties purchased in the first seven
months of 2016, down from an average of 8.8 percent for the same time period in
2015 to the lowest level since 2007, when the average gross rental yield across
the 473 counties was 7.3 percent.
“While average rental returns on properties
purchased so far in 2016 are at a nine-year low, these returns are still
attractive compared to alternative investing opportunities,” said Daren Blomquist, senior vice president
at ATTOM Data Solutions.
“After a drop-off in
single family purchases by both individual and institutional investors over the
past two years, we’re starting to see investor acquisition activity pick up
again.
“Given shifting attitudes
toward homeownership that are showing up in stubbornly low homeownership rates
and our data showing more than 18 million non-owner occupied single family
homes — one in every four single family homes — these single family rental
investors will be an important and likely growing force in the real estate
market for years to come.”
For a complete copy of the company’s news release,
please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
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