Abilene single-family rental rates remain flat

​​​ABILENE - Rents in January 2016 showed little variation from the 12-month average and rents from January 2014.

January rents were 0.4 percent below the 12-month average and a slight 1.4 percent higher than rent in January from a year ago.

Flat rents have been characteristic of rental rates since Barnett & Hill began reporting on rent statistics in December 2012.

Over the last three years, inflation-adjusted data reveals only a slight 0.11 percent increase in rents per annum.

Looking back at nominal rents, rents ranged from 80 cents per sf in February 2015 down to 65 cents in February 2013.

On a per-sf basis, Abilene rents fell two cents over the preceding month, and matched the 12-month average at 75 cents per sf.

When compared with December 2015 rents, Abilene ISD rents fell ,three cents to 69 cents per sf while Wylie ISD rents held steady at 89 cents.

Abilene homes stayed on the rental market eight days longer than the 12-month average of 28 days.

This trend was true for all ZIP codes except for rentals in 79601 which, on average, leased in 20 days. 

Of the five ZIP codes, the greatest number of home leased in January 2016 were in 79606.

According to North Texas Real Estate Information Systems (NTREIS), 72 single-family homes were leased in January 2016. These units leased at, on average, 75 cents per sf and were sized at 1,411 sf.

Consequently, these leases are estimated to deliver a January 2016 value of $76,194 to the Abilene economy. 

Considering the coming 12 months and the leases executed during January 2016, these leases potentially account for an $914,328 annual contribution to Abilene’s economy.

This overview utilizes NTREIS data on leased properties in Abilene. This data provides 13 months of data spanning January 2015 to January 2016.