As rental demand heightens, the overall supply of low-rent units has fallen by 3.9 million over the last decade due to rent increases in existing units, building condemnations, and demolitions, according to the latest Joint Center for Housing Studies State of the Nation Housing report.
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Home Sales Increase as Buyers Avoid Rising Rents
Rising rentals are making many people realize that buying a home is a much better investment, and is increasing real estate sales in many areas.
Read More »Rising Rents Not Motivating Consumers to Buy Homes, Research Shows
Only six percent of renters who have lived in their home longer than two years have experienced a decrease in their rent amount, while 38 percent of renters experienced an increase in their rent amount in the last two years.
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