Agent2Agent in Walnut Creek>Question Details

Brian Sparr, Real Estate Pro in Walnut Creek, CA

What is Walnut Creek's annual rental appreciation?

Asked by Brian Sparr, Walnut Creek, CA Sat Feb 28, 2009

Does anybody have a general idea of what Walnut Creek's annual rental appreciation is? I'm curious to know how rents have fluctuated over the last 5 years (ideally, broken down between SFH and apartments for each bedroom count).

Help the community by answering this question:

Answers

3
Hey Dave -

My reasons for wanting this data are twofold:
1 - curiosity. I'd just like to see a historical trend of how rents in our area have compared to house prices and incomes.
2 - data modeling. If someone is trying to forecast the potential of a rental property and they factor in an annual rental appreciation of 5%, their model becomes invalid (in my opinion) if that city has never actually experienced that high of an appreciation. Because of this, I'd like my models to at least be in the ballpark when running numbers on local properties.

thanks,
- Brian
0 votes Thank Flag Link Tue Mar 3, 2009
The problem with finding a statistical (as opposed to an anecdotal) answer to your question is that most rental listings are now on Craigslist. So while we could fairly easily tell you the price of homes sold over most any recent period because they've been on the MLS, it's not so easy with rentals.

What I'm curious about is why you want to know. I ask because I wonder if you're making a common mistake of expecting the past to predict the future. Not possible. Just because home prices have been coming down for a couple of years does not mean they are going to come down next month.

So what use would you make of the information if it could be found?
0 votes Thank Flag Link Tue Mar 3, 2009
I think rents are down from 1 year ago and inventory is up. Last year at this time when I was looking, there were maybe 35-40 3bdrm homes for rent in Walnut Creek. Now there is an average of 85-95 homes. It also seems like most homes are in the $2400-2500 range whereas last year they were more in the 3k plus range. This is based on listings I see on Craigslist. You can now get a 4bd/2ba sfh with a yard and pool for under 3k.
0 votes Thank Flag Link Mon Mar 2, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer