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Harold Willig: Apartment Rents Rising Faster in Lower End of the Market


Apartment living in Middle America has become more expensive for folks looking to rent in the lower price range of the market.

According to a recent report by Zillow.com, while more apartments have been built in the U.S. in the 12 months ended June 2016 than in each of the last five years, most have been at higher prices.

“Rents in the least expensive tier are rising faster than overall rents,” said Zillow.

Higher apartment rents are a positive thing for investors with SpringView, as we focus on finding, renovating and renting affordable (but not necessarily the lowest- priced) single-family homes in Middle America. The higher rents for apartments will help drive demand for more affordable single-family home rentals.

Zillow looked at the rental market in 15 metropolitan areas, and in 11 of them, “rent increases hit double-digit rates for the lowest-priced apartments.”

“There's a growing divide in the rental market right now," reported Dr. Svenja Gudell, Zillow’s chief economist.

"Very high demand at the low end of the market is being met with more supply at the high end, an imbalance that will only contribute to growing affordability concerns for all renters. We're simply not building enough at the bottom and middle of the rental market to keep up with demand.”

For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at 917-209-4452.

For more on the story, see the article in Community Investor.

For more on the story, go here.

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For more information:

917-209-4452