Fountain Circle Townhomes

Increase in Rents Continues

Renters should prepare themselves for apartments rents nationwide to continue to rise. According to Bruce McClenny, president of Apartment Data Services, Houston, TX, we can expect rental rates to rise significantly during 2011 due to growing demand and less supply. Rental rates in Houston have grown 16 percent since 2005.

As 2010 came to a close, an upward trend in apartment rates nationwide was confirmed for a third quarter. RentJungle, who tracks rental details across the nation, posted October 26, 2010, “During the third quarter of 2010, the average rent for an apartment in the United States increased by 5% from the prior quarter according to our analysis. Nationwide, one-bedroom apartments saw the largest percentage increase in Q3, up 7% to $1,034 per month. Two bedroom apartments were also in demand, up 5% to $1,284 per month.”

Added Expenses

Renters have watched apartments break out more and more costs and push them onto the individual renter. It started with paying your own electricity, then adding a water/gas bill, then adding on for trash pickup. Even pets cannot escape a surcharge that has been added on their behalf called “pet rent” which raises the occupant’s monthly charge by $10-50.

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