ARMLS Rent Check™ – Oct, 2019

For the month of Oct 2019, all RENT Check indicators weaken except the number of closed rentals went up a bit.

Median Lease: $1,550 – Reduced from $1,595 the previous month.
Average Lease: $1,726 – Reduced from $1,755 of the previous month.
Avg. Days on Market: 31 – Increased from 27 days of the previous month.
Closed Rental: 1,991 – Increased from 1,909 homes the previous month.

Rent Check Quotient™: 3:10 – Rental supplies went up comparing to 1:5 last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

While we are getting into the holiday season, the rental market started to slow down.

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