Rents
As home sales slow across the country, a rise in rent prices have been noted. With more people choosing to stay put in their apartments, occupancy rates have remained high. That high occupancy rate is now allowing landlords to push the rents up a little higher.
According to RealFacts, Southern California remains the West’s most expensive place to rent an apartment. The average rent in Los Angeles and Orange counties climbed 7.4% to $1,546 while rents increased 7.6% to an average of $1,452 in Ventura County. In Seattle, rents rose 6.3% to $957. Las Vegas saw rents rise 5.7% to $859; while Phoenix rents rose 7.2% to $794; and Portland’s increased increased 5.6 % to $789. Rents did decline, however, in Colorado Springs, CO and Boise, ID. In Colorado Springs rent was down .3% to $708, and Boise went down .1% to to $703.