Online apartment listing service, ABODO, published statistics on the price of rent nationwide in its March National Apartment report. In February, Boston had the 9th largest rent increase nationwide.
According to the report, “apartments owners and managers have been reveling in near record high occupancy levels and steady rent growth for the past few years. Those who are wondering how long those good times will last may be pleased with the answer. The robust demand is not just a flash in the pan, but potentially a fundamental shift fueled by an expanding pool of renters.”
The National Apartment Report, which is published each month by ABODO, also stated, “The U.S. has seen a spike in renters in the past decade. In fact, nearly 9 million rental households have been added since 2005, according to a new report on America’s Rental Housing: Expanding Options for Diverse and Growing Demand that was released by Harvard’s Joint Center for Housing Studies. The report estimates that the rental market now includes 42.6 million families and individuals.”
ABODO’s report revealed the most significant rent increases and decreases nationwide from February to March.
The largest rent increases were seen in Portland, Indianapolis, Pittsburgh, St. Paul and Columbus, GA. And the largest rent decreases were seen in Tucson, Sacramento, Ann Arbor, Las Vegas and Eugene.
ABODO is an online and mobile-based tool, updated daily, created to help renters search exclusive apartments for rent.
Founded in 2012, ABODO is the country’s leading hyper-local apartment search service. The company is improving the rental search experience by combining the largest inventory of available apartments with a simple and intuitive user experience. ABODO is a privately held company and is headquartered in Madison Wisc.
