On the last post, we took a look at the Avondale, AZ rental market and the subdivision of Coldwater Springs.
This week, we travel down the I-10 West and will take a look at Buckeye, AZ and the subdivision of Encantada Estates.
Encantada Estates is a subdivision that is roughly located south of the 85 and north of Beloat Road. Encantada Estates is east of Rooks Rd. and west of Miller Rd.
All of our Buckeye rental market figures are taken from closed rental data from the Arizona MLS from 2013-2015.
We will focus on the rental homes that rented between January and October and break down the resulting rental data by year.The rental property data we will look at in this objective review of the Buckeye and Encantada Estates rental market focuses on closed, unfurnished rental properties.
The rental market numbers in Buckeye and Encantada Estates are very similar. Attached is our summary chart.
The average rental home price gain for the above time period in Buckeye, AZ is a solid 12.2%. For the houses in Encantada Estates, the three year rental price is similar to Buckeye as a whole at 10.2%. However the sample size for the rental properties at Encantada Estates is very small.
Both areas of comparison had more of a gain when compared to rental price per square foot (Buckeye – 15.6% , Encantada Estates – 18%).
To compare the Buckeye rental market gains with the overall Phoenix area rental market gains in 2015 check out our post from September 21.
The rental market inventory decrease over the last three years in Buckeye was 28% which is less than other West valley cities analyzed. The decrease in Encantada Estates was 50% although the sample size is small.