Wednesday, July 20, 2016 / by Ryan Critch
Rents Skyrocket at Highest Rate in almost a Decade
- There was a 3.7% increase in effective rents in the second quarter of 2016 as compared to the same period last year.
- That the effective rent growth this quarter compared to last quarter was 2.3%.
- Annual effective rent growth was positive in 49 of the top 50 markets, based on number of units. Only Houston was negative, at -1.4%, as the fallout from energy-industry job losses and excess construction continues.
With rents continuing to rise and mortgage interest rates still at historic lows, let's meet up today to determine if you could turn your monthly rental cost into a home of your own.