Average apartment rents in the United States fell 3% in 2009 and vacancy rates hit a 30-year low of 8%, according to data released today by real estate research firm Reis Inc. Several large landlords have sweetened the deal for renters, reports Reuters, offering lower rents and special deals.
While regional markets vary, these figures imply an advantage for renters and apartment hunters nationwide over last year, when average rents declined only 0.4% and the vacancy rate rose to 6.6%.
Do think now is a good time to be a renter?
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Money always seems to be formost on people mind when deciding whether to continue renting or buying their first home. But, after you’ve owned several properties, the “renting” option could still be more appealing. Just to have a simpler, less complicated life.