Nationwide, rents now average $1,111 per month according to this article in the Wall Street Journal. Rents are now over 15% higher than they were at the end of 2009. Renters continue to get squeezed by high demand and low supply. This trend shown in the graph below is expected to continue for at least the next year.
Rental prices have gone up over the last few years, but it’s important to consider that maintenance and utility costs have continued to increase as well. Thanks for sharing this article!
Valerie,
You are quite correct and thanks for pointing it out. Materials like roofing have certainly gotten more expensive over the past few years. But some areas have experienced explosive rent growth so I would bet it is outpacing the growth in maintenance and utility costs. It will be interesting to see how all of this shakes out in the future.
Thanks for reading and commenting,
Kevin