As the rental housing market continues to evolve in Pensacola, the latest report from the Pensacola Association of Realtors comparing January 2023 to January 2022 highlights some exciting changes. From the median rental prices to the number of properties leased, the data reveals a market that is still strong and growing.
In January 2023, the median rental price for single-family homes was $1,700, a significant increase from the $1,435 median rental price in January 2022. Condos also saw a rise in median rental fees from $1,337 to $1,500. While these increases may seem daunting for renters, it's important to remember that the rental market in Pensacola remains robust and shows no signs of slowing down.
The average days on the market for rental properties in January 2023 were 36 days for single-family homes and 43 days for condos, a slight increase from 21 and 15 days, respectively, in January 2022. While this may be seen as a negative change for landlords, the time on the market is still reasonably quick, indicating that demand for rental properties remains high.
In terms of leased properties, January 2023 saw a total of 226, with 217 being single-family homes and 9 being condos. This increased from the 191 leased properties in January 2022, with 181 single-family homes and ten condos.
Suppose you're a landlord in Pensacola looking to take advantage of the strong rental market or a renter looking for a quality home to rent. In that case, Hometown Properties of the Gulf Coast is a leader in single-family home rentals.
