Jul 15, 2012

Housing Trends

Rental Trends – July 2012

The U.S. multi-family market’s average national rent (for markets covered by RealFacts) reached an all-time high of $1,008 in the first quarter of 2012, which is an increase of 4.0% from a year ago. The new peak surpasses the previous high of $985 set in 2001 that was fueled by low vacancies and the frenzy of the dot com era. Today, there is a new tech boom but demand fundamentals point to better longevity for the market, including a low supply of new apartments and a sizable Gen Y demographic looking to rent.

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