Apartments for rent in the U.S.: the rise in prices in the 3rd quarter

Apartments for rent in the U.S.: the rise in prices in the 3rd quarter
Housing rental cost in the U.S. is growing in many major metropolitan areas of the country. On the photo - the skyscrapers of Chicago

Rental of apartments and homes in the U.S. in the 3 rd quarter of 2010 grew against the background of declining in real estate sales. According to the report by Reis Inc, which make researches for the U.S. real estate market, grow of the housing rental cost in the U.S. for 9 months of 2010 is amounted to 0,5%. Moreover, as noted, the number of offers for housing rentals in the U.S. in the third quarter decreased by 0.6%.

About 84,000 offers that were previously available on the market of the housing rentals in the U.S were removed by the lessors.

To date, according to Reis Inc, average rent cost in the U.S. is 1,037 dollars a month.

Among the market leaders in grow of prices for rent is New York. Rental costs in New York rose in the third quarter of 2010 for 2.2 percent. New York remains one of the most expensive regions of the United States at prices for housing rentals. Currently, the average rental price of housing in New York City is 2.756 dollars. Rising of prices for rentals in New York has continued, despite the increase of rental proposals by 0.5% in the third quarter.

Among the U.S. rental market outsiders are over-priced markets of Las Vegas and Florida. Among the cities where the greatest decrease was noted in rental rates are Detroit and Miami.

In 2011, as expected, trend in growing of real estate rental rates in the United States will continue. Among the cities where housing rental costs are going to be the most expensive, according to the agency Reis Inc are New York, Houston, San Francisco and San Antonio.

Date: 11/10/2010

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