Single Family Rental History
1989 - 2008
EOY	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
2 Bedroom
Average Rent	$      312	$      337	$      385	$      442	$      497	$      522	$      534	$      540	$      543	$      542	$      547	$      559	$        572	$        586	$        597	$      611	$      628	$      656	$        681	$        716
Total Units	2,404	2,168	1,847	$   1,577	1,698	1,763	1,879	2,368	2,227	2,367	2,320	2,321	2,254	2,072	1,979	1,805	1,760	1,635	1,394	1,311
Vacant Units	102	60	88	$        69	71	97	117	160	180	170	154	142	162	161	124	116	112	113	76	113
Vacancy Trend	4.24%	2.77%	4.76%	4.38%	4.18%	5.50%	6.23%	6.76%	8.08%	7.18%	6.64%	6.12%	7.19%	7.77%	6.27%	6.43%	6.36%	6.91%	5.45%	8.62%
3 Bedroom
Average Rent	$      396	$      443	$      521	$      605	$      661	$      685	$      695	$      704	$      708	$      707	$      712	$      729	$        753	$        769	$        767	$      781	$      823	$      857	$        901	$        943
Total Units	1,797	1,464	1,298	1,322	1,418	1,456	1,538	1,901	1,818	1,990	1,970	1,957	1,951	1,831	1,768	1,679	1,881	2,018	1,850	1,794
Vacant Units	59	45	59	57	56	105	100	130	134	169	143	111	132	130	115	108	141	181	131	167
Vacancy Trend	3.28%	3.07%	4.55%	4.31%	3.95%	7.21%	6.50%	6.84%	7.37%	8.49%	7.26%	5.67%	6.77%	7.10%	6.50%	6.43%	7.50%	8.97%	7.08%	9.31%
4 Bedroom
Average Rent	$      470	$      531	$      630	$      725	$      778	$      804	$      813	$      826	$      850	$      837	$      831	$      867	$        883	$        892	$        883	$      902	$      957	$      990	$     1,048	$     1,103
Total Units	644	531	513	530	574	578	612	735	725	789	772	776	777	728	681	664	750	796	813	830
Vacant Units	17	16	31	29	33	43	49	49	61	57	61	41	50	46	39	45	60	63	60	81
Vacancy Trend	2.64%	3.01%	6.04%	5.47%	5.75%	7.44%	8.01%	6.67%	8.41%	7.22%	7.90%	5.28%	6.44%	6.32%	5.73%	6.78%	8.00%	7.91%	7.38%	9.76%
5 Bedroom
Average Rent	$      543	$      647	$      750	$      860	$      928	$      956	$      989	$      995	$      978	$      979	$      978	$   1,006	$     1,035	$     1,045	$     1,081	$   1,101	$   1,147	$   1,191	$     1,219	$     1,318
Total Units	108	92	85	87	97	101	106	144	141	168	168	154	164	134	123	118	152	175	191	212
Vacant Units	3	3	3	5	2	6	9	9	13	20	19	13	9	6	7	10	13	15	20	22
Vacancy Trend	2.78%	3.26%	3.53%	5.75%	2.06%	5.94%	8.49%	6.25%	9.22%	11.90%	11.31%	8.44%	5.49%	4.48%	5.69%	8.47%	8.55%	8.57%	10.47%	10.38%
Total Market
Average Rent	$      368	$      404	$      474	$      556	$      612	$      636	$      647	$      654	$      662	$      661	$      665	$      682	$        702	$        716	$        719	$      737	$      780	$      821	$        871	$        922
Total Units	4,953	4,255	3,743	3,516	3,787	3,898	4,135	5,148	4,911	5,314	5,230	5,208	5,146	4,765	4,551	4,266	4,543	4,624	4,248	4,147
Vacant Units	181	124	181	160	162	251	275	348	388	416	377	307	353	343	285	279	326	372	287	383
Vacancy Trend	3.65%	2.91%	4.84%	4.55%	4.28%	6.44%	6.65%	6.76%	7.90%	7.83%	7.21%	5.89%	6.86%	7.20%	6.26%	6.54%	7.18%	8.04%	6.76%	9.24%
Twenty-Year Average Vacancy Trend =								6.35%