A recent report from apartmentlist.com confirms apartment rental prices continue to increase in 2016. The national median price for your average two bedroom apartment is about $1,300.00 U.S dollars. This amounts to more then a 2% increase per annum, which has been typical in recent years. Those in the real estate industry point to an ever expanding amount of new renters in need of apartments as the main reason for the steady rise. This market includes not only millennials but a fresh crop of former home owners as well as those who simply can’t meet the current financial requirements to purchase a home.
As a rental property owner, how will you capitalize on this information? This is good news for property owners and potential investors, but is it good for the economy? I will address this question in depth in upcoming posts. Any comments or suggestions will help me focus my discussions; feel free to leave some!