Apartment Rent Data And Analysis - Rent Jungle

Time Is Right for Investing in Rental Properties

Rent Jungle — Mon, 12 Mar 2012 10:29:58 +0000

Fewer Are Buying Homes, Rentals Are Going Up

Rent Jungle — Wed, 25 Jan 2012 11:34:24 +0000

Apartment Vacancies Reach 10-Year Low

Rent Jungle — Thu, 12 Jan 2012 10:33:26 +0000

"In response to rising foreclosures and stringent mortgage standards developers and families turned to the rental market as a solution. New rental units are expected to relieve the tight vacancy market, specifically on the west coast within the next year. Despite optimistic reports of multifamily construction rebounding, only 38,000 new units were built last year representing an all-time low in the last thirty years."

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Apartment Vacancies in U.S. Decline to a Decade Low

Rent Jungle — Tue, 10 Jan 2012 10:32:09 +0000

"U.S. apartment vacancies dropped to a 10-year low in the fourth quarter, allowing for rent increases that are likely to continue this year,Reis Inc. said.

The vacancy rate fell to 5.2 percent, the lowest since the end of 2001, the New York-based property research firm said in a report today. It was 5.6 percent in the previous three months and 6.6 percent a year earlier. The average monthly effective rent, or what tenants paid after landlord giveaways, climbed 2.3 percent from a year earlier to $1,009, Reis said."

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Multifamily Sector Shows Positive Movement

Rent Jungle — Mon, 14 Nov 2011 10:22:10 +0000

10 Cities with Rising Rents a Positive Sign

Rent Jungle — Mon, 24 Oct 2011 09:10:25 +0000

U.S. Apartment Vacancies Drop to Five-Year Low as Demand Begins to Slow

Rent Jungle — Wed, 19 Oct 2011 10:48:58 +0000

July Consumer Indicators Show Shift Toward Renting

Rent Jungle — Thu, 18 Aug 2011 09:48:03 +0000

Apartment Vacancies Decline For The First Time In Three Years

Rent Jungle — Wed, 27 Jul 2011 10:28:36 +0000

Ways Property Managers Can Survive a Tough Economy

Rent Jungle — Wed, 13 Jul 2011 11:34:57 +0000

Rising cost of rent raises fears concerning inflation

Rent Jungle — Wed, 15 Jun 2011 14:05:35 +0000

Census Shows Increase in Renters Nationwide

Rent Jungle — Tue, 07 Jun 2011 09:38:38 +0000

Despite Positive Buying Climate, Dwellers Prefer Renting

Rent Jungle — Fri, 13 May 2011 12:01:39 +0000

"A National Association of Home Builders webinar, "Consumer Preferences for a New Generation of Renters," identified trends apartment owners and builders should be attuned to. Here's what to know, says Jack Kern of Kern Investment Research, Washington, D.C., and Mark Humphreys of Humphreys and Partners Architects, Dallas..."

Click here to read more.

The Best Cities for Bachelors

Rent Jungle — Mon, 09 May 2011 12:32:32 +0000

"Houston takes top honors in a newly released list of the "10 Best Cities for Bachelors," according to the results of a Rent.com e-mail survey of 1,000 single adult men.

"Considered an "all-around attractive city to live and play," the largest city in Texas boasts "affordability and enticing first date hotspots" as well as a large dating pool.

"Rounding out the list are Chicago, San Antonio, New York, Miami, Los Angeles, New Orleans, Philadelphia, Washington, D.C., and Baltimore. Rent.com notes that many of the cities on the list attract single men and women alike."

To read the full article click here

Apartment Industry Trends Towards Record Rent Growth

Rent Jungle — Mon, 11 Apr 2011 14:48:25 +0000

Rent Jungle — Fri, 01 Apr 2011 15:33:16 +0000

Third Quarter Apartment Rents Up 5 Percent Nationwide

Rent Jungle — Tue, 26 Oct 2010 08:57:21 +0000

During the third quarter of 2010, the average rent for an apartment in the United States increased by 5% from the prior quarter to $1,356 according to our analysis. Our detailed reports of rent trends by city are available by clicking here.

"We are seeing some encouraging signs in the overall national rental market for the second quarter in a row," says Rentjungle.com CEO Jon Pastor. "In the third quarter, rent nationwide was up by 5% when compared to the second quarter of 2010, which is the continuation of an improvement trend that started in January. Rent in Q4, 2009 was down by approximately 3% from the prior quarter, and during Q1 2010, rent was flat. Rent increased in Q2 by 2.5%, making Q3, the second continuous quarter of increases."

Nationwide, one bedroom apartments saw the largest percentage increase in Q3, up 7% to $1,034 per month. Two bedroom apartments were also in demand, up 5% to $1,284 per month.

Across all apartment sizes, Washington DC, Denver, and Miami all saw rent increases above 6% in the second quarter. The majority of cities realized increases in the 2 to 5% range. However, Des Moines, Detroit, Dallas and Cleveland all saw decreases in excess of 1%.

"Even with the real estate market continuing to sputter with the expiration of the homebuyer tax credit, rents remained strong" said Rent Jungle co-founder Geng Wang. "We may be seeing a more permanent shift away from owning to renting. As consumers get confidence back, and move out of shared livings spaces , they are opting to continue to rent rather than looking at purchasing."

Rentjungle.com calculates these figures by analyzing over 1 million apartment ads a month. The goal of the site is to help users make more informed decisions. More rent trend data, including breakdowns by city, is available at: http://www.rentjungle.com/rentdata/ . Rents are calculated using a 10 mile radius from the center of the city.

Ranking The Most Tenant Friendly Cities

Rent Jungle — Thu, 22 Jul 2010 17:30:45 +0000

The property management software blog/service "software advice" has ranked the top 50 tenant friendly cities.

Chicago was first, followed by Arlington, TX. You can check out the full list here:

http://www.softwareadvice.com/articles/property-management/2010s-most-tenant-friendly-u-s-cities-1071210/

Second Quarter Rents Continue Improvement Trend

Rent Jungle — Tue, 06 Jul 2010 17:00:58 +0000

Nationwide Apartment Rents Show Improvement in First Quarter

Rent Jungle — Wed, 07 Apr 2010 12:39:13 +0000

During the first quarter of 2010, the average rent for an apartment in the United States has remained flat at $1,020 according to Rent Jungle, an apartment search and market research website.

"We are seeing some encouraging signs in the overall national rental market," says Rentjungle.com CEO Jon Pastor. "In the first quarter, rent nationwide was flat when compared to the fourth quarter of 2009, which is a reversal in a negative trend. Rent in Q4, 2009 was down by approximately 3% from the prior quarter, so a flattening in Q1, 2010 is an improvement."

Studio apartments saw the largest percentage increase in Q1, up 2% to $758 per month. One bedroom apartments were also in demand, up 1% to $959 per month. Larger apartments were generally flat to slightly decreasing in price.

Across all apartment sizes, Honolulu, Tulsa, Miami, Pittsburgh, Fort Worth, Dallas, and Boston all saw rent increases above 3% in the first quarter. The majority of cities were unchanged. Nashville, Fresno, Memphis, San Francisco, St. Paul, and Minneapolis however, all saw decreases in excess of 2%.

"Trends in the apartment market appear to be following overall trends in consumer confidence," said Rent Jungle co-founder Rick Ferris. "Renters who may have taken on roommates last year appear to be heading out on their own. They are starting with smaller apartments, as evidenced by the rent increase for studios and 1 bedrooms."

Rentjungle.com calculates these figures by analyzing over 1 million apartment ads a month. The goal of the site is to help users make more informed decisions. More rent trend data, including breakdowns by city, is available using the drop-down menu in the upper left of this page.

Apartment Market Indices Show Continued Weakness

Rent Jungle — Tue, 16 Mar 2010 08:56:52 +0000

The National Association of Home Builders Multifamily Housing Market Index , released on 3/11/2010, continued to show weakening market conditions in Q4 2009.

Apartment managers see vacancy rates increasing
Measures of interest from potential renters are also predicted by apartment managers to decrease
The number of managers that feel rents will continue to decrease has held steady from Q3 2009 at slightly more than half of those surveyed

See full data table here.

Last Year's Rental Deals May Not Repeat

Rent Jungle — Mon, 15 Mar 2010 11:05:10 +0000

The last few months of 2009 were great for apartment hunters. Rents were down significantly from prior quarters. Will that repeat itself this year? Average rent data through September indicate that it will not for most cities. However, some deals can still be found depending on the geography.

The first chart below shows the average nationwide rent for all apartment sizes is on an upward trend. Which was not the case last year. Q3 2010 was up by ~4% over Q3 2009. You can see, based on the trend, that Q4 is unlikely to show a major discounts for renters.

The second chart below , shows how rents have changed year-over-year for major cities. The city-by-city data make the story a bit more nuanced. Many cities, particularly in the Northeast, have seen significant rent increases over the past year. Cities in the South and Midwest that were hit particularly hard by the financial crisis are still experiencing declining rents.

If you would like more data on your particular geography, you can:

Compare your rent to that of your neighbors
Search rent trends and listings for your city

Summary Dashboard
Summary Dashboard

RentJungle.com calculates these figures by analyzing over 1 million apartment ads a month. We spider the internet, much like Google, to gather apartment listings from where ever they appear. The goal of the site is to help users make more informed decisions. More rent trend data, including breakdowns by city, is available here: Average Rent By US City . Rents are calculated using a 10 mile radius from the center of the city.

Average Apartment Rents Decrease by 4% Nationwide

Rent Jungle — Thu, 25 Feb 2010 09:00:48 +0000

Over the last 6 months, the average rent for an apartment had decreased by $40 to an average of $961 per month, a decrease of ~4%.

Wichita, Indianapolis, Miami all saw rent increases above 2%. The majority of cities, however, are still flat or decreasing. Oklahoma City, New York, Albuquerque, Portland, Louisville, Los Angeles, Dallas, Phoenix, Denver, and Nashville all posted declines from 7% to 9%.

"Despite these decreases, we are seeing some encouraging signs in the rental market," says Rentjungle.com CEO Jon Pastor. "Looking at just January this year, rent nationwide is up 1% over December, which is a reversal in the overall 6 month trend."

The following shows the price changes for the largest cities in the survey:

City	Jul-Aug Rent	Dec-Jan Rent	% Change	$ Change
Wichita	548	564	3%	16
Indianapolis	726	745	3%	19
Miami	1,503	1,540	2%	37
Memphis	803	808	1%	5
Pittsburgh	777	780	0%	3
Cleveland	753	755	0%	2
Tulsa	532	532	0%	0
San Antonio	747	736	-1%	-10
St. Louis	805	792	-2%	-13
Tampa	930	914	-2%	-16
Houston	1,009	989	-2%	-20
Bakersfield	716	699	-2%	-17
San Jose	1,494	1,458	-2%	-37
Columbus	775	754	-3%	-21
Austin	921	896	-3%	-25
Boston	1,973	1,915	-3%	-58
El Paso	557	538	-3%	-19
Honolulu	1,591	1,534	-4%	-57
Raleigh	845	814	-4%	-31
Baltimore	1,104	1,064	-4%	-40
Detroit	849	817	-4%	-32
Anaheim	1,454	1,398	-4%	-56
Colorado Springs	769	737	-4%	-32
Washington	1,647	1,575	-4%	-72
Tucson	769	733	-5%	-36
Las Vegas	958	913	-5%	-45
Atlanta	942	897	-5%	-45
Cincinnati	779	741	-5%	-37
Chicago	1,533	1,455	-5%	-79
Philadelphia	1,148	1,089	-5%	-59
Milwaukee	848	803	-5%	-44
Jacksonville	734	695	-5%	-38
Omaha	760	719	-5%	-40
Aurora	999	944	-5%	-54
Charlotte	900	850	-6%	-50
Kansas City	806	758	-6%	-49
Mesa	925	868	-6%	-57
Sacramento	1,015	949	-6%	-65
Oklahoma City	730	681	-7%	-49
New York	2,398	2,223	-7%	-175
Albuquerque	857	795	-7%	-63
Portland	1,028	953	-7%	-76
Louisville	729	674	-8%	-56
Los Angeles	1,667	1,539	-8%	-128
Dallas	1,176	1,082	-8%	-94
Phoenix	875	804	-8%	-71
Denver	1,033	944	-9%	-89
Nashville	987	900	-9%	-88

Rentjungle.com calculates these figures by analyzing over 1 million apartment ads a month. The goal of the site is to help users make more informed decisions.

"Difficulties in the real estate market didn't push as many people into apartments as the industry would have expected," says Rentjungle.com founder Rick Ferris. "Increases in families renting instead of buying were offset by existing renters taking on roommates or moving back with parents."

ABOUT RENTJUNGLE

Rentjungle.com, is the most comprehensive rental listing site on the web. It works much like other search engines in that it scours the Internet to amass apartment listings from a variety of sites. Rentjungle.com employs innovate spidering technology that can detect both when new rentals come on the market and when rents for a particular property change. All of this data is analyzed and stored in order to keep users abreast of the latest happenings in the rental market. Trends can be tracked by city and by neighborhood, furthering the site's value to users. Users can see searches on an easy, interactive map that links to satellite street views.

95 Percent of Renters Moving in 2010

Rent Jungle — Wed, 27 Jan 2010 15:33:57 +0000

According to a recent survey, over 95% of renters are planning on moving this year.This will be fantastic news for the apartment industry, if true. The survey also reinforced the importance as advertising online...as those who were moving indicated they would look there first for listings. Go to full article

more than 95% of renters said they are planning a move in 2010. Striking while their 2010 moving resolutions are hot, many renters are also moving earlier this year, searching for better deals and nicer apartments in great neighborhoods...

...nearly 60% of renter respondents moving this year said they are either paying the same or more in rent as last year. Renters are also factoring in how their new home will suit their needs and lifestyle. Some renters are looking for a more convenient commute to work, family and school while others want more space to start a family or to double up with roommates.

NAHB Multifamily Rent and Demand Index Shows Improvement

Rent Jungle — Tue, 01 Dec 2009 18:16:07 +0000

The National Association of Home Builders has released their quarterly index of apartment demand , however, do not yet show progress. In the third quarter of 2009, the index measuring asking rents dropped from 50.8 a year earlier to 41.7, while the index that measures effective rents declined from 38.5 to 26.6."

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Is Now a Good Time To Buy A House?

Rent Jungle — Tue, 17 Nov 2009 13:57:41 +0000

The WSJ put together a great Q&A on whether now is the right time to move from renting to buying. General gist is that renting is still a great deal due to the amount of incentives that are given today. From the article

"Generally, it doesn't make sense to buy unless you expect to remain in the house for at least four or five years, because the transaction costs -- including commissions for real estate agents and mortgage fees -- are heavy.

But now is clearly a good time to rent. Many landlords need tenants badly. The national apartment-vacancy rate in the third quarter was 7.8%, the highest in 23 years, according to Reis Inc., a New York research firm. So landlords are cutting rents and offering such sweeteners as free flat-screen televisions or several months of free rent to retain or attract tenants"

Rent Jungle — Wed, 07 Oct 2009 13:32:21 +0000

Losing a job and losing a home can be devastating. Unfortunately, this has been a tragic reality for many Americans. To help them out, Rentjungle.com has compiled a list of best cities for starting over. The survey measured such indicators as average rents and home values, median incomes and unemployment rates. Topping the list of best places to get back on your feet were Indianapolis, Pittsburgh and Oklahoma City. All three boast high income ranks and low rent ranks . The worst cities for new beginnings were Los Angeles, Miami and New York. Income ranks for these three cities were 35, 44 and 30, but rent ranks were 41, 38 and 45. With this information in hand, Rentjungle.com hopes people can better decide if moving to a new city might be in order.

Best Cities To Get Back On Your Feet

Rank	City	Average Rent	Median Home Value	Median Income	Unemployment
1	Indianapolis	735	100,988	65,100	8.7
2	Pittsburgh	775	92,107	60,000	7.8
3	Oklahoma City	716	119,613	55,300	5.9
4	Cincinnati	692	102,555	66,200	10.3
5	Omaha	773	187,972	67,100	5.3
6	San Antonio	754	98,335	49,100	6.9
7	Kansas City	825	114,373	67,800	8.9
8	Hartford	963	140,799	81,100	8.2
9	Cleveland	757	75,580	62,100	9.3
10	Baltimore	1,118	127,781	78,200	8.0

Worst Cities To Get Back On Your Feet

Rank	City	Average Rent	Average Home Value	Median Income	Unemployment
1	Los Angeles	1,651	391,906	59,800	11.7
2	Miami	1,513	189,579	49,200	10.8
3	New York	2,458	440,805	63,000	9.1
4	San Francisco	1,814	681,869	94,300	10.5
5	Chicago	1,614	207,050	71,100	10.6
6	San Diego	1,477	375,025	72,100	10.3
7	Orlando	944	129,740	59,200	11.0
8	Tampa	944	127,587	56,500	11.3
9	Oakland	1,518	348,674	94,300	10.5
10	Charlotte	911	155,530	64,300	12.4

In order to scour the million-plus rental ads on the Internet, Rentjungle.com employs innovate spidering technology that can detect both when new rentals come on the market and when rents for a particular property change. All of this data is analyzed and stored in order to keep users abreast of the latest happenings in the rental market. Trends can be tracked by city and by neighborhood, furthering the site's value to users. Lastly, users can see searches on an easy, interactive map that links to satellite street views. They can get an idea of what awaits outside their front window without having to physically visit the place--especially useful if they're moving to a new city or want to apartment hunt at 2am.

Rent Jungle — Wed, 07 Oct 2009 13:14:12 +0000

Knowing whether to sign a lease or a stack of mortgage papers is not always clear. But Rentjungle.com is shedding light on the matter with a new guide to cities that compares renting versus buying by considering the combined cost of average mortgages, taxes and insurance and comparing those to average rents. Much of this data is drawn from the over 1 million apartment ads Rentjungle.com analyzes each month. As of September, the best places to dive into the home market were Houston and Cleveland. In these cities, buying is 52% and 40% cheaper than renting. In contrast, the housing markets in San Francisco and Seattle are so hot that in the former it's 54% cheaper to rent and in the latter it's 49%.

Top Cities to Rent

Rank	City	2 Bed Rental + Insurance	Mortgage+Taxes+Insurance	% Cheaper to Rent
1	San Francisco	1,816	3,945	54%
2	Seattle	1,153	2,259	49%
3	Honolulu	1,601	2,813	43%
4	Anchorage	1,189	1,810	34%
5	Omaha	715	1,082	34%
6	Raleigh	774	1,169	34%
7	San Diego	1,474	2,221	34%
8	Albuquerque	752	1,134	34%
9	Colorado Springs	737	1,105	33%
10	Austin	1,003	1,448	31%

Top Cities to Buy

Rank	City	2 Bed Rental + Insurance	Mortgage+Taxes+Insurance	% Cheaper to Buy
1	Houston	1,207	793	52%
2	Cleveland	739	527	40%
3	Dallas	1,408	1,014	39%
4	Detroit	804	618	30%
5	Chicago	1,673	1,302	29%
6	New Orleans	1,050	846	24%
7	Pittsburgh	788	645	22%
8	Baltimore	1,136	977	16%
9	Louisville	743	681	9%
10	Kansas City	787	740	6%

Rent Jungle — Fri, 25 Sep 2009 16:50:41 +0000

July to September saw a significant increase in rent of greater than 2% in Louisville and Anchorage . Overall, six major cities saw a rent increase of 1% or greater:

Rent increase from July to September, 2009
Percent

average rent price increase by city

Rank	City	July	August	September	3 Month Change
1	Louisville	729	756	759	4.1%
2	Anchorage	1,202	1,213	1,233	2.6%
3	Detroit	850	862	865	1.7%
4	Orlando	930	950	944	1.5%
5	Nashville	1,009	1,003	1,023	1.4%
6	Chicago	1,597	1,592	1,614	1.0%
7	Kansas City	819	817	825	0.7%
8	Miami	1,510	1,505	1,513	0.3%
9	Omaha	772	776	773	0.2%
10	Salt Lake City	949	936	951	0.2%

Rent decreases were more prevalent across the board with all of the top 10 reporting rent decreases greater than 3%. 4 markets show rent decreases greater than 5%: Boston , Tucson , New Orleans , Phoenix , Albuquerque :

Rent decreases from July to September, 2009
Percent

average rent price decreases by city

Rank	City	July	August	September	3 Month Change
1	Boston	2,015	1,974	1,812	-10.0%
2	Tucson	777	749	721	-7.2%
3	New Orleans	1,127	1,077	1,066	-5.4%
4	Phoenix	897	872	850	-5.3%
5	Albuquerque	865	859	824	-4.7%
6	Milwaukee	874	849	834	-4.5%
7	San Diego	1,538	1,482	1,477	-4.0%
8	Charlotte	947	919	911	-3.9%
9	Hartford	997	972	963	-3.4%
10	Honolulu	1,605	1,549	1,550	-3.4%

Rent Jungle — Fri, 25 Sep 2009 12:57:33 +0000

Overall apartment rents have remained relatively stable nationwide in the July to September 2009 period. Only studio apartments have shown some upwards movement at 4.5% from $747 per month to $781 per month.

Average Nationwide Apartment Rent By Number of Bedrooms
$'s per month - July to September, 2009

Beds	July	August	September	3 Month Change
Studio	747	759	781	4.5%
1	1,001	962	1,007	0.6%
2	1,305	1,238	1,299	-0.4%
3	1,589	1,514	1,575	-0.9%
4	2,099	1,990	2,052	-2.2%