Apr 7 2008
Average Rents For U.S. Apartments Continue To Rise
The average asking rent for U.S. apartments rose 1 percent in the first three months of 2008, the 24th consecutive quarterly gain, as the U.S. housing slump deterred people from buying homes, according to real estate research firm Reis Inc.
San Francisco had the most rapid rental growth at 11.1 percent, followed by San Jose, California, at 8.9 percent, New York at 8.8 percent and Seattle at 7.8 percent, New York-based Reis said today in a statement. The national vacancy rate rose 0.3 percentage point to 5.9 percent.