Apartment Rents Rise Again Across US

January 10, 2014 at 11:22 pm Leave a comment

From the Wall Street Journal:

Nationwide, landlords raised rents by an average of 0.8% to $1,083 a month in the quarter, according to a report to be released Tuesday by Reis Inc., REIS -0.52% a real-estate research firm. While that is below the previous quarter’s 1% increase, it is above the 0.6% gain seen in 2012’s final quarter. Rents climbed 3.2% for all of 2013.

The vacancy rate, meantime, fell to 4.1% in the fourth quarter from 4.6% in the year-earlier quarter, remaining well below the 8% peak at the end of 2009.

“Demand for apartments remains strong,” wrote Ryan Severino, a senior economist with Reis. “Not even the seasonal weakness normally observed during the fourth quarters of calendar years had much if any impact on the market dynamics.”

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Entry filed under: Benchmarks, Rent Rate, Vacancy Rate. Tags: , , .

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