APRIL2019 North Port-Sarasota-Bradenton Metro · 2020-04-23 · APRIL2019 North...
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www.zillow.com/research/ APRIL2019 North Port-Sarasota-Bradenton Metro National Rents Current: $1,477 Monthly Change: 0.2% Annual Change: 2.6% North Port Metro Rents Current: $1,816 Monthly Change: 0.4% Annual Change: 0.7% Breakeven Horizon 2.2 years Major Cities - Rents Sarasota Current: $1,928 Monthly Change: 0.4% Annual Change: 2.1% Breakeven Horizon: 2.4 years Bradenton Current: $1,695 Monthly Change: 0.6% Annual Change: 2.7% Breakeven Horizon: 1.9 years Venice Current: $2,004 Monthly Change: 0% Annual Change: -10.2% Breakeven Horizon: 1.9 years North Port Current: $1,467 Monthly Change: 0.4% Annual Change: 1% Breakeven Horizon: 1.9 years Palmetto Current: $1,587 Monthly Change: 0.4% Annual Change: 3.4% Breakeven Horizon: 1.8 years Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community City ZRI Year-over-Year -10.2% -10.1% - -2.4% -2.3% - -1.3% -1.2% - -0.7% 0.7% - 1.0% 1.1% - 2.1% 2.2% - 3.4% 3.5% - 5.3% 5.4% - 9.7% Metro Cities: Top/Bottom by Annual Rent Appreciation Top: Anna Maria 9.7% Myakka City 9.3% Parrish 5.3% Palmetto 3.4% Ellenton 3% Bottom: Venice -10.2% Longboat Key -2.4% Siesta Key -1.3% Nokomis -0.7% Cortez 0.7% Metro Neighborhoods: Top/Bottom by Annual Rent Appreciation Top: South Poinsettia 8.7% Downtown 8% Bird Key 6.4% The Meadows 5.2% Bee Ridge 4.6% Bottom: Indian Beach-Sapphir -4.5% Vamo -3.9% Glen Oaks Ridge -3.4% Lido Key -1.9% Gulf Gate Estates -0.6% How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices are above this number and half are below. What is the Breakeven Horizon? The Breakeven Horizon in the number of years you must live in a home before owning the same home becomes more financially advantageous than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years, it is financially better for you to rent in ’City X’ unless you plan on living there for more than 5.5 years.
Transcript of APRIL2019 North Port-Sarasota-Bradenton Metro · 2020-04-23 · APRIL2019 North...
www.zillow.com/research/
APRIL2019 North Port-Sarasota-Bradenton Metro
National Rents
Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%
North Port Metro Rents
Current: $1,816Monthly Change: 0.4%Annual Change: 0.7%
Breakeven Horizon2.2 years
Major Cities - Rents
SarasotaCurrent: $1,928Monthly Change: 0.4%Annual Change: 2.1%Breakeven Horizon: 2.4 years
BradentonCurrent: $1,695Monthly Change: 0.6%Annual Change: 2.7%Breakeven Horizon: 1.9 years
VeniceCurrent: $2,004Monthly Change: 0%Annual Change: -10.2%Breakeven Horizon: 1.9 years
North PortCurrent: $1,467Monthly Change: 0.4%Annual Change: 1%Breakeven Horizon: 1.9 years
PalmettoCurrent: $1,587Monthly Change: 0.4%Annual Change: 3.4%Breakeven Horizon: 1.8 years
Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community
City ZRI Year-over-Year-10.2% -10.1% - -2.4% -2.3% - -1.3% -1.2% - -0.7% 0.7% - 1.0% 1.1% - 2.1% 2.2% - 3.4% 3.5% - 5.3% 5.4% - 9.7%
Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Anna Maria 9.7%
Myakka City 9.3%
Parrish 5.3%
Palmetto 3.4%
Ellenton 3%
Bottom:Venice -10.2%
Longboat Key -2.4%
Siesta Key -1.3%
Nokomis -0.7%
Cortez 0.7%
Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:South Poinsettia 8.7%
Downtown 8%
Bird Key 6.4%
The Meadows 5.2%
Bee Ridge 4.6%
Bottom:Indian Beach-Sapphir -4.5%
Vamo -3.9%
Glen Oaks Ridge -3.4%
Lido Key -1.9%
Gulf Gate Estates -0.6%
How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The
ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices
are above this number and half are below.
What is the Breakeven Horizon? The Breakeven Horizon in the number of years you
must live in a home before owning the same home becomes more financially advantageous
than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,
it is financially better for you to rent in ’City X’ unless you plan on living there for more
than 5.5 years.
APRIL2019
*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at
www.zillow.com/research/data or by emailing [email protected]
Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.
www.zillow.com/research/
Largest Cities Covered by Zillow
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Anna Maria 3.3 5,390 9.7 3.3Bradenton 1.9 1,695 2.7 1,920 1.2Cortez 2.1 2,662 0.7 1.8Ellenton 2.6 1,693 3 1Holmes Beach 2.8 3,375 2.8 2.7Longboat Key 3.5 3,974 -2.4 4,000 2.9Myakka City 2.8 2,164 9.3 1.2Nokomis 2.7 2,360 -0.7 1.3North Port 1.9 1,467 1 1,500 1Osprey 2.8 2,982 1.8 1.4Palmetto 1.8 1,587 3.4 1,800 1.1Parrish 2.7 1,837 5.3 1,930 0.9Sarasota 2.4 1,928 2.1 1,950 1.3Siesta Key 3.4 3,670 -1.3 4,200 3Venice 1.9 2,004 -10.2 2,000 1.3
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Montrose-Ghent 2.1 2,421 2.2 1Munroe Falls 2.1 1,279 0.4 0.9New Franklin 2.1 1,232 6.9 0.9Northfield 1.9 1,437 1.5 0.9Norton 1.5 1,155 4.3 0.8Portage Lakes 984 5.8 0.9Ravenna 1.6 1,053 1.7 0.7Richfield 2.2 1,939 5.7 1Rootstown 1.9 1,154 -1.1 0.7Stow 1.9 1,289 -4.4 0.9Streetsboro 1.9 1,251 -3.5 0.8Tallmadge 1.9 1,256 1.8 0.8Twinsburg 1.7 1,558 1.2 1Windham 1.2 957 0.7 0.7
Largest Neighborhoods Covered by Zillow
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Bayou Oaks 1,427 1.8 1.3Bayshore Gardens 990Bee Ridge 2.5 1,855 4.6 1.2Desoto Lakes 2.6 1,698 1.5 1.1Fruitville 2.5 1,781 2.3 1.1Gulf Gate Estates 2.1 1,643 -0.6 1,750 1.3Kensington Park 2.1 1,544 1.6 1.2Lake Sarasota 2.4 1,663 4 1.2North Sarasota 1,475 2 1.2Park East 1.1 1,309 2.1 1.5
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Pinebrook 1.5Ridge Wood Heights 2.2 1,615 2.8 1.3Sarasota Springs 2.2 1,600 2.5 1,540 1.2South Bradenton 1,400South Gate Ridge 2.3 1,600 0.8 1.2South Sarasota 2.5 2,358 1.7 1.5Southgate 2.5 1,773 0.7 1.2The Island 1.9The Meadows 2 1,987 5.2 1.4Vamo 2.1 1,685 -3.9 1,660 1.5
