Rental Prices Apartments in USA Rise Up to 3.4%

For you who live in America Apartments is one of the very comfortable and safe place for you, but these days there are rumors about a rate increase? for more let us read the following!

The rental price of apartments in the United States rose for the first time in five years. It is a sign that the supply began to chase demand rents.

Data Reis Inc. (Reis) noted in it report, the increase reached 4.2 percent in the third quarter from 4.1 percent three months earlier. It was the first rise since late 2009.

This increase happened because after a request from the lowest level for more than a decade and this is a small change in the apartment market," said Ryan Severino, a senior economist at Reis.

"We have passed the peak of the price," he added.

Severino said, now ready to complete the construction of apartment developer its units this year, starting from 1999, when the economy is booming. Data Reis noted, so far there are 113 thousand apartment units have been built in the United States, or exceeding 85 438 units that was completed in 2013 ago.

In Such report that 13 of the 79 largest property market in the United States has a vacancy rate of supply is less than 3 percent in the third quarter, down from 16 in the previous three months. The vacancy rate is still below the national supply last year, amounting to 4.3 percent.

The following are some of the targets or achieving rents of apartments

Reis noted that rising rents as new units charge a higher price than the average. Tenants pay a price hike of up to 3.4 percent from the previous year or to an average of 1,111 dollars or about Rp 13 million per month. That figure is little changed from the second quarter worth 1,100 dollars.

While for the San Francisco and San Jose, California, had the largest growth in effective rents from year to year, amounting to 6.4 percent and 5.9 percent. Meanwhile, Seattle is third with 5.7 percent growth.
source Bloomberg

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