Top 10 Highest Rental Markets in 2nd Quarter, 2008
July 5th, 2008 • Related • Filed Under
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The rise in rents across the country in major cities is going against the conventional wisdom of the market. You would think with a housing slump that a rents would be going down as inventory increases, but markets such as New York saw rents increase by 7.7% and San Francisco by 9.4%.
Sure you can rent a home pretty cheaply in outer suburbs, but that is why the housing market is crashing. Speculators caused over-development in the outer regions of the major metro markets. But if you want to live in the top cities in the country, expect to pay and then pay some more as rents keep soaring.
Top 10 Highest Rental Markets in 2nd Quarter, 2008
- New York, NY $2,847 a month
- San Francisco, CA $1,825
- Fairfield County, CT $1,757
- Boston, MA $1,646
- Long Island, NY $1,521
- Orange County, CA $1,520
- San Jose, CA $1,504,
- Northern NJ $1,460,
- Ventura County, CA $1,409
- Los Angeles, CA $1,408
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Pingback by Hitting the Links | Redfin Boston Sweet Digs on 9 July 2008:
[...] Some apartment dwellers in New York complain about their neighbors children. I don’t blame them.[The New York Times] [...]
Comment by jp moses | REI Tips on 17 July 2008:
I don’t find it surprising at all that rents would be going up — or at least holding strong — right now.
Rental inventories may be rising in numbers, but so are renters! With so many homeowners losing out to foreclosure, what’s left for them but to find a place to rent? We’ve got more folks needing a place to rent than ever. Supply and demand.
…jp