The Center for Housing Policy reports that rents across the U.S. are rising faster than incomes by about $1.75 for every dollar earned, which means landlords may be reaching the peak of what they can charge for rent before forcing their tenants to look for more affordable housing. Even so, rent growth is not accelerating as much as researchers once predicted, and Reis reports only marginal increases. Those increases, however, have made a significant difference for renters despite the fact that low supply and increased construction in prime markets should be boosting prices even higher. For more on this continue reading the following article from National Real Estate Investor.
The next time your property management software recommends raising the rent on multifamily lease renewals, you might want to think twice.
Read more...Multifamily Rental Prices Cresting