Temporary Lodging: Rental Rates and What do I Get!

Published Date: 2015-05-07


Variance: Changes in Rates
We asked respondents to evaluate their current rental rates compared to the previous year for the exact same rental property. The great news is that 35% report having higher or much higher rates in 2014 – up slightly from the previous two years. Consistent with past responses, 61% say their rental rates were identical to the previous year. In 2014, only 4% say that had “lower” rates than the previous year. For the first time ever, no one reported having rates that were “much lower.” Collectively, this is a big contrast to the 2011 annual report in which 16% said they had “lower” or “much lower” rates than the previous year.Actual Rental Rates
Additional rental rate data was collected for month-to-month rentals based on the number of bedrooms in a rental property. Compared to our 2013 survey results, 2014 rental rates were all higher, except for four-bedroom units, which showed a decrease. (For the latter, this may be more of a result of the variance in the data collected, rather than an actual trend.) In 2013, the largest increase in rates was for studio rentals, which generally indicates increased demand. This higher studio rental rate continued to hold for 2014. One-bedroom and five-bedroom+ units also saw significant rate increases.2014 Month to Month Rental Rates - What did you charge? | ||||||
Answer Options |
2014 Responses |
2013 Responses |
2012 Responses |
2011 Responses |
2010 Responses |
2009 Responses |
Studio | $2,375 | $2,303 | $1,892 | $1,846 | $1,550 | $1,500 |
1 bedroom | $2,495 | $2,191 | $2,408 | $2,080 | $2,293 | $2,353 |
2 bedroom | $2,710 | $2,579 | $2,722 | $2,490 | $2,509 | $2,683 |
3 bedroom | $3,588 | $3,437 | $3,188 | $3,179 | $2,949 | $2,739 |
4 bedroom | $3,383 | $3,705 | $4,423 | $3,495 | $3,413 | $3,983 |
5+ bedroom | $5,400 | $4,704 | $4,421 | $5,433 | $5,413 | $4,183 |