Rental Prices Across The Country Hit Highest Level In Over Two Decades

Rental Prices Across The Country Hit Highest Level In Over Two Decades

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The US Census Bureau recently released its quarterly report on residential vacancies, and the news isn’t good for renters.

According to the report, the median asking rental price for vacant units across the country is $951. That price has more than doubled since 1995 (the earliest data available), when median asking prices were right around the $400 mark.

The Takeaway

With rising prices and high competition for available units (the vacancy rate for rental units in Q2 2018 was just 6.8%), now is NOT a good time to rent. Buying a home is a much better long-term investment for your financial future. And thanks to the historically high prices for rental units, in many cases, it’s just as affordable as renting.

Susan Magee Headshot
Phone: 804-334-5087
Dated: October 17th 2018
Views: 243
About Susan: As a mother, wife and businesswoman, my determined spirit has taken me through personal and professi...

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