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North Port-Sarasota-Bradenton Housing Statistics Show Rent Rates Stabilizing — Rise 0.8%

Real Property Management of Sarasota & Manatee and RentRange Release Report on Rental, Vacancy and Saturation Rates

North Port-Sarasota-Bradenton Housing Statistics Show Rent Rates Stabilizing — Rise 0.8%

North Port-Sarasota-Bradenton Housing StatisticsSarasota, FL – May 9, 2018 – North Port-Sarasota-Bradenton FL rental home rates STABILIZING,
according to Real Property Management of Sarasota & Manatee, local affiliate office of the nation’s
leading property management organization, and RentRange, the nation’s leading provider of Rental
Market Intelligence™.

The Q1 2018 “Rental Statistics Report” found that the average monthly rent for single-family homes in
North Port-Sarasota-Bradenton was $1,750.00, representing a +0.8 percent year-over-year INCREASE.

Nationally, year over year rents for single family 3BR homes fell by 5.3% during the first quarter of 2018
to $1,377 (NOTE: The data used only considers rents on three-bedroom single-family homes to insure
comparability across markets).

“Considering the economic factors and ‘destination nature’ of the North Port-Sarasota-Bradenton
housing market, and in spite of the national decline in quarterly rental rates, we expect local rental
prices to remain just about where they are now,” said John Michailidis, Managing Member and Broker
of Real Property Management of Sarasota & Manatee. “While the real-world, boots-on-the-ground
feedback our team receives daily from residential tenants throughout Sarasota and Manatee counties
does reveal slight resistance to upward rental price movements, we are not yet seeing significant
downward pressure on rental rates – supply and demand seems to be in equilibrium at the moment.”

North Port-Sarasota-Bradenton FL vacancy rates, the percentage of homes considered unoccupied, rose
slightly, from 9.25% one year ago at this time, to 9.69% through the first quarter of 2018. Nationally,
vacancy rates now average 5.3%, down .08% from one year ago.

The report also analyzed the saturation rate in North Port-Sarasota-Bradenton FL, which is the
estimated percentage of rented single-family homes as a share of all single-family homes. Results
showed that 26.59% of all single-family homes are rented, which is down slightly from 27.67% a year
ago. Nationally, rentals represent 25.8% of all three-bedroom single family homes, which is
approximately the same as the 25.7% rate a year ago.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

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