The 5 Best Markets for Rental Properties in 2015

By Joshua Hines

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New data from Reis predicts the top 5 and bottom 5 metros for vacancy and rent increases in 2015

With the homeownership rate staying historically low, multifamily demand across the country remains high and rents are continuing to rise.

Asking rent is expected to increase an average of 3.3 percent nationwide next year, which is generally consistent with 2014 numbers, according to market-research firm Reis. This figure outstrips both overall inflation, projected to be between 1.6 percent and 2 percent, and salary increases, which Mercer forecasts at 3 percent.

Despite the generally high demand, some markets reflect a possible concern of oversupply, with vacancy rates forecast to reach upwards of 7 percent. One state not feeling the crunch of a renter’s market? California, which is predicted to have not only three of the five metros with the highest asking rent increases, but three of the five metros with the lowest vacancy rates as well.

Many recent reports have predicted 2015 to be a big year for homebuyers, particularly in the first-time buyer segment, citing the growing rental un-affordability as a contributing factor. As 2015 gets underway, these metros will be ones to watch.

Read the entire piece here

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About Joshua Hines

Joshua is a co-founder and CEO of RenterResume, and understands the frustration facing both renters and landlords. It’s his personal goal to make the process of finding a renter or a new apartment more enjoyable, by leveraging today's technology. Away from RenterResume headquarters, Josh enjoys volleyball, martial arts and talking to other entrepreneurs.

2 thoughts on “The 5 Best Markets for Rental Properties in 2015

  1. margarita

    Believe me, Northern New Jersey is setting some historical high rent trends. Small, dirty, very old (and not classic) 2 bedroom apartments going for $1450.00 per month, plus all utilities — and no parking. And, the landlord ask this price with a straight face.

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