Renters can afford median asking rents in only five of the 33 major metropolitan areas that Redfin analyzed. Just 35% of Philadelphia-area renters can afford the typical new lease.
The Philadelphia Inquirer’s Post
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18% jump in rents since Covid, and ‘more to come’ says think-tank. The cost of new tenancies has grown by 18% since January 2022 with the proportion of poorer families renting almost tripling from just 11% in the mid-1990s to nearly 30% in 2021-22 18% jump in rents since Covid, and 'more to come' says thinktank #rentalmarket #PRS #rentalprices #postcovid #costofliving #housing https://lnkd.in/exDP3-Eb
18% jump in rents since Covid, and 'more to come' says thinktank
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Are Renters Finally Catching a Break? Rents Jump in the Midwest, Fall in the West How will this impact our major Urban markets and their suburbs, 2024 will be a very interesting market rent shift and impact values https://lnkd.in/eRGVTskF
Are Renters Finally Catching a Break?
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Rent Relief: Cities Where Prices Have Plummeted ——————— Renting During the Pandemic Renters may finally be getting a break. Median Asking Rent Falls The median asking rent across all bedroom counts fell year-over-year in July — the first time that’s happened since the the peak of the COVID-19 pandemic back in June 2020, according to real estate company Redfin. Housing Costs Continue to Climb Rent prices have been outpacing wages for decades, and the trend was exacerbated by the pandemic: Rent prices are 26% higher than they were in early 2020, t... Read Full Article: https://lnkd.in/g3MvqX_Z #Housing #Affordability #Concessions #costs #covid19 #HereisthelistofcommaseparatedtagsRent #Housing #LeaseDeals #pandemic #realestate #Redfin #RentPrices #wages #Zillow
Rent Relief: Cities Where Prices Have Plummeted - expaTimes
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Rent growth in the United States has returned back to the typical yearly increase for the most part, though many households are still struggling to afford rents, according to researchers at Florida Atlantic University and two other schools. Nationally, rents rose 3.53% year-over-year, in line with the typical rental increase usually seen in a more balanced market, February data from the Waller, Weeks and Johnson Rental Index shows. This trend is reflected in many parts of the country. Forty-three metropolitan areas either saw year-over-year declines or rent increases of less than the current national average of 3.53%. Five metros saw rents drop: in Austin, rents declined 3% year-over-year; Cape Coral, rents declined almost 2%; San Antonio, Texas, a .54% decline; North Port, a .20% decline; and Portland, a .15% decline.
Rents Stabilizing, Affordability Challenging
floridarealtors.org
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“An oversupply of apartments will provide renters with greater options this spring and for the remainder of the year. However, the long-term housing shortage will limit the decline in rent growth. Based on current trends, it looks like demand may catch back up to supply in late 2025 or in early 2026.” Feel free to share your comments below #firstam #firstamlv #titlerepthebrit
CRE X-Factor - Renters May Gain Some Temporary Leverage as Flood of New Apartment Supply Comes to Market
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In this article, we will be analyzing the US rental market while covering the 20 most affordable US cities for renters: Wanna beat inflation? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire https://lnkd.in/erFQZdGG Read the article here 👆 #RealestateMarket #RealestateInvestment #AffordableHousing #MultiFamilyRealEstate #AccredictedInvestors
20 Most Affordable US Cities for Renters — Real Estate Investor MBA
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In this article, we will be analyzing the US rental market while covering the 20 most affordable US cities for renters: Wanna beat inflation? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire https://lnkd.in/dQs5GabD Read the article here 👆 #RealestateMarket #RealestateInvestment #AffordableHousing #MultiFamilyRealEstate #AccredictedInvestors
20 Most Affordable US Cities for Renters — Real Estate Investor MBA
rei.mba
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In this article, we will be analyzing the US rental market while covering the 20 most affordable US cities for renters: Wanna beat inflation? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire https://lnkd.in/dQs5GabD Read the article here 👆 #RealestateMarket #RealestateInvestment #AffordableHousing #MultiFamilyRealEstate #AccredictedInvestors
20 Most Affordable US Cities for Renters — Real Estate Investor MBA
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Rising rent prices continue to impact housing affordability across the U.S. This trend underscores the challenges renters face in today's market. For those navigating these rising costs, it might be worth considering the benefits of home ownership.
Monthly rents across country continue to rise in June: Report
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A high-touch Ukraine lawyer, Real estate agent, SEO specialist known for his extensive market knowledge and his unmatched devotion to clients, my success is based almost exclusively on positive referrals.
Rents Show Biggest Decline in 3 Years—Should Landlords Panic? Redfin’s November rent report is out, showing that median rent prices declined by 2.1% year over year. This is the biggest decline since 2020, and renters nationwide will breathe a sigh of relief. Landlords and investors? Perhaps not so much, although there are regional variations that are worth exploring if you’re planning on investing in real estate in 2024. Asking rent prices have been dropping steadily since May 2022, when the median U.S. rental price shot up to above $2,000 per month. At that point, rents were growing at a monstrous rate of 15% year over year as a result of the pandemic-induced scarcity of available rental homes. The situation now is very different. The severe supply-demand gap has been steadily closing over the past year and a half, with new construction boosting supply—to the point where some landlords have been struggling to find tenants and offering rental concessions such as the first month rent-free or free parking. The rental vacancy rate rose to 6.6% in the third quarter of 2023, the highest level since the first quarter of 2021, which was during the era of COVID pandemic restrictions. More Renters, Lower Rents The apartment building sector is gaining momentum. New construction of apartment buildings rose by 7% year over year in the third quarter of 2023 to a seasonally adjusted rate of 1.2 million. This is the highest rate in the past 30 years. New construction starts in the sector are declining somewhat, falling 26.2% year over year in the third quarter, but the overall rate of new starts that have just begun is still historically high, standing at 1.2 million. Redfin chief economist Daryl Fairweather interprets the data as a sign that ‘‘rents have started falling in a meaningful way. Rising supply […] means renters have more good options to choose from.’’ Rising supply isn’t the only reason why rents are falling. There are larger socioeconomic factors at play. The biggest one is, of course, the nationwide shift toward renting as a longer-term option as homeownership becomes less and less affordable. Currently, 1 in 3 people in the U.S. are renters; they rent for longer than before and are older than ever before. This trend toward longer-term renting is changing the status of renting from the short-term stopgap option before homeownership to more of a valid lifestyle choice. Fairweather says that ‘’with homeownership so expensive, renting has started to lose its stigma.’’
Rents Show Biggest Decline in 3 Years—Should Landlords Panic?
inrealestate.nyc
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