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Price to rent ratio for every zip code in the US
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2012 Feb 1, 5:02am 31,904 views 60 comments
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bmwman91
2012 Feb 15, 8:28am
Then there is still the issue of median rent and median sale is not the same thing.
This is true. Really, it seems like the only proper data set to work with would be one comprised of raw sales prices and rent values. Sampling methodology is a huge factor, and unless EVERY single sale & rental are taken, all sorts of sampling-related issues could mask trends and cause false ones to appear.
I have the x64 version of JMP & 16GB of RAM...I probably COULD work on the entire set of raw data. My gut feeling is that there is going to be some sort of correlation between price and rent without the masking effects of averaging or median filtering. Oh yeah, confirmation bias...about that, lol.
bmwman91
2012 Feb 15, 8:31am
I could pretty easily put the 2-letter state code because I can just join with my zip code table.
Yes, I have a monstrous database with data for every rent and asking price from Craigslist for about a year.
Shoot me an email if you want to see what we can glean from the data. I know that this is sort of Patrick-proprietary stuff since you make a living off the site, so maybe we could make something interesting to share with readers without giving everyone all of your data.
JMP can access databases and stuff, so we wouldn't necessarily need to email monstrous text files.
Patrick
2012 Feb 15, 9:14am
Another complicating factor is that I don't actually have sales prices, just asking prices. Wish I did.
Asking rents are less of a problem, because the landlord usually gets exactly what he's asking.
Shoot me an email if you want to see what we can glean from the data. I know that this is sort of Patrick-proprietary stuff since you make a living off the site, so maybe we could make something interesting to share with readers without giving everyone all of your data.
OK, I'll mail you.
Bap33
2012 Feb 15, 10:18am
In my area I would LOVE to have the number of homes, apparts, commer, and land held by the same persons and groups. And how many of the individuals that hold rentals are also members of groups that hold rentals ..... and their financial history (forclosure, BR, ShortSales, ect) .... just a dream, I know.
Personally I think that this sort of information would be very useful. The other graph that I think would be great is rent vs the tenant is likely/not likely to destroy your investment property/not pay the rent graph.
Or
Price vs rental rate as it's no point buying a investment if you can't rent it out.
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Just for kicks, I plotted the average price vs average rent for every zip code in the US from my mostly-Craigslist data set of 4.5 million points.
Pretty cool, but I'm not sure what it means except that there is basically a linear relationship.
Please copy this graph and use it where ever you want, as long as you keep the http://patrick.net URL in the image.
Here's the gnuplot commands I used:
Anyone know how to make the text of the url label lighter, or how to put commas and $ marks on the rents and prices?