Rent is rising, but millennials will fork over the cash via HousingWire

Rental rates are rising all across the country, and the trend is not forecasted to change anytime soon. But this might not be a problem for millennials.

Rent.com conducted a survey of 1,000 millennial renters to find out how they are planning their next move, finding more than half (57%) rank affordability as the most important factor when choosing an apartment. Yet when asked, 55% said they are willing to spend up to $150 more per month in order to stay in an apartment they love. Nearly one in four respondents (24%) are willing to shell out an additional $400 a month, just to keep their pad.

And looking at industry trends, they might have to pay that extra money soon.

Read more...Rent is rising, but millennials will fork over the cash | 2015-05-08 | HousingWire