Zillow recently revealed that the 43 million households that rent in the US spent $535 billion on rent in 2015. Rent has continued to rise since 2009 and shows no sign of slowing down. Rent has continued to rise since 2009 and shows no sign of slowing down. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier 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”.
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