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Apartments Rents Continue to Rise Across U.S.

hamilton-zanze April 16, 2014

Rents rose 0.6% on average in Q1 2014 and 3.2% year-over-year across the 79 largest U.S. metros, according to research firm Reis. Rents have risen 13% since the trough in late 2009.

Rental prices continue to see upward pressure from tight vacancy, with occupancy rates hovering around 96% in Q1. The cost of buying a single-family home has increased significantly due to rising interest rates, helping to keep vacancy low. The median monthly home payment is 20% higher compared to a year ago. Additionally, employment among 25-34 year olds has notably picked up, which could contribute to higher household formation levels.

Read more at The Wall Street Journal

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