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Rents Still Skyrocketing

Wednesday, January 20, 2016   /   by Dan Malloy

Rents Still Skyrocketing

Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month.


 


The article made two important points:


1. Rents are increasing faster than the last several years:



 “Apartment rents increased faster last year than at any time since 2007.”



2. Rent increases are accelerating



“Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the same quarter a year earlier, the strongest year-end performance since 2005”.



Here is a graph to illustrate the rate of increase over the last several years:


Average Effective Rent in the US | Keeping Current Matters


 
Malloy Home Team at Premier Brokers International
9123 N. Military Trail, Suite 104
Palm Beach Gardens, FL 33410
561-876-8135
561-370-5736

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