Experts Say Rent Prices Going up
By: Newsroom Solutions
Updated: March 15, 2011
With the demand for rental housing increasing, double-digit rent hikes could follow.
Vacancy rates are a bit less than 10-percent right now.
Rent.com's president tells CNN that by next year, vacancies will be about five-percent.
Peggy Alford expects rents to jump seven-percent in each of the next two years, unless you'll be living in cities like Boston, San Diego and Seattle.
Alford predicts by 2015, rents there could be 30-percent higher than they are today.
The reason for all of this is young people dumping roommates or moving out of their parents' home and foreclosures that sent millions of people looking for a place to live.
Vacancy rates are a bit less than 10-percent right now.
Rent.com's president tells CNN that by next year, vacancies will be about five-percent.
Peggy Alford expects rents to jump seven-percent in each of the next two years, unless you'll be living in cities like Boston, San Diego and Seattle.
Alford predicts by 2015, rents there could be 30-percent higher than they are today.
The reason for all of this is young people dumping roommates or moving out of their parents' home and foreclosures that sent millions of people looking for a place to live.
