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Pensacola Realty Masters Blog

Realty Masters is happy to present the following Pensacola area community and Pensacola real estate information! 

Pensacola Rental Market 2021
02-19-2021
Nicole St. Aubin
Owner Education
04-21-2022

Low rental inventory

More comforting news for Pensacola area landlords is that the Pensacola rental market is performing stronger than ever despite COVID and financial difficulties for many households. Despite the COVID pandemic, Pensacola’s rental market saw increases for the 2nd half of 2020 by 10%, on average, for new move in rents.

We came across this New York Times Article entitled “How the Pandemic Blew Up Rents” discussing the disparities between different markets and metros. The article cites that Nationwide, 2020 rents were down 1.2% year over year. The majority of larger markets saw rental decreases while smaller metros had the opposite, rental increases. As mentioned, we definitely saw strong rental increases in Pensacola’s market. According to Apartment Lists National Rent Data, our data matched up with theirs in showing that the Pensacola area saw nearly a 10% year over year increase. In contrast, other Florida markets did not perform as well. Markets like Orlando and Tallahassee saw a 5% rent decrease in 2020.

Locally, our employment numbers are strong despite and remained so during the pandemic. While we did experience high unemployment in the tourism industry, it’s clear that our area was not affected as much as others in the state of Florida, whose economy highly depends on tourism dollars.

Locally, inventory levels for both the real estate sales market and rental market are at record lows. Hurricane Sally’s impact on our area in September 2020 exasperated our low inventory issue causing a spike in both rental and sales prices. Into 2021, we continue to see record low inventory and vacancy rates. Both rental rates and home sales prices continue to rise and affordability continues to be an issue as rents and mortgage rates are rising above what the average Pensacola family can pay. Many landlords continue to choose to sell their properties as they become vacant, especially with costly hurricane repairs and eviction moratoriums that limit the landlords right to collect rent and evict for non-payment.

According to the New York Times Article, rents are now stabilizing around the country and rent fluctuations are starting to slow. Locally, we expect the trend of low supply and increasing rents for the foreseeable future.

If you are considering purchasing a property in the Pensacola area, reach out to our team to discuss the rental market! 

We have over 50 Rental Homes & Apartments in the Pensacola area for rent!
05-15-2019
Realty Masters
Tenant Education
05-03-2022

It was a hard summer for Pensacola rentals!  We experienced the lowest inventory we've had in years and saw rental prices increase nearly 5%.  Typically, summer is the preferred season for renters to move due to school aged children and PCS Season. Because so many people prefer to move in summer, as a renter you face a huge disadvantage due to competition and the laws of supply and demand. 

Now that school has started and the holidays are in full swing, we are seeing a huge influx in rental inventory and seeing reduced rental rates. So why move in summer? Now is the time to move. 

Fall and winter are the best times to move in Pensacola! 

1) There are more options to choose from! There are nearly 200 more rental properties on the Pensacola market today than there was in July. In summer, we had residents give move out notices only to retract those notices because they could not find a suitable property to rent. Why move when everyone else is trying to move?

2) There is less competition. All summer we had two and three applications on each rental property. Not anymore! Take your time browsing and find the home that is right for you. 

3) Rental rates are lower. When there is limited supply, rental rates increase. When there is an increased supply (like now!), rental rates decrease. 

Here's Mitch giving you a quick glance at over 50 rental properties in the Pensacola area while explaining some reasons to make your move this fall. 

So basically, you can get a nicer house, for less money, and enjoy a less stressful  house hunting experience. We have over 50 rental properties available, check our list to find a cozy home to move in to this fall! 

originally posted 11-01-2016


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