This should be music to your ears – especially if you are a prudent real estate investor.
If rents are rising, it conceivably means that another person would be willing to pay more for that property in order to get the same percentage return. Hmmmmm. That means that the price of the homes is increasing. If you follow this blog, than you know that we feel the rental market in the United States may be, and is turning out to be the savior of the housing sector.
In fact 44 of the largest 100 metros that were surveyed by Trulia reported a year over year increase in rent prices and 84 of them have reported an increase in rent over the from one month to the next.
Here are the states with the fastest growing rent prices:
|
Metros with Largest Rent Increases |
|||
| # | U.S. Metro |
Y-o-Y % Change in Asking Rent, June 2012 |
Y-o-Y % Change in Asking Rent, March 2012 |
| 1 | San Francisco, CA |
14.7% |
10.9% |
| 2 | Oakland, CA |
11.2% |
7.0% |
| 3 | Denver, CO |
10.9% |
9.4% |
| 4 | Miami, FL |
10.5% |
11.2% |
| 5 | Boston, MA |
10.3% |
8.6% |
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