Rental prices for apartments have risen 7% in the past year, while in the same time wages have risen just 1.8%, which has made it increasingly harder for Americans to afford the payments. The average renter now spends about 30% of their income on rent, up from the norm of 25%. Real estate experts predict that rental prices will continue to rise for the foreseeable future. In a recent report, 85% of property managers have raised their rental rates over the past year.
Posted on: Thu, 30 Oct 2014 17:03:59 +0000
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