Zillowrecentlyrevealedthat 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 aWall Street Journalarticleearlier 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:
Author:Andrea Ortega Phone: 480-861-4663 Dated: January 21st 2016 Views: 253 About Andrea: Andrea Ortega has been a licensed Realtor in Arizona since 1996, and has been with American Allstar ...
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