Rents surge again, vacancies drop

Rising rents have made buying a home more attractive. An article on Wednesday underscores the dynamic as Reuters reported that renting became more expensive and vacancies hit a 10-year low.

The vacancy rate was 4.7 percent, and asking rents increased to $1,091 a month, according to the report.

The rent increases were not just limited to big, urban areas, either. The report notes that mid-sized cities were seeing the increases as well.

2012-07-05T08:25:35+00:00July 5th, 2012|Uncategorized|0 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.