Rents Expected To Increase
A short supply of available units is pushing up rent prices nationwide
By Victoria Stilwell
If the monthly rent check is already painful to write, brace yourself.
The Census Bureau’s U.S. rental vacancy rate, which tracks the share of properties that are unoccupied, fell to 6.8 percent in the second quarter. That’s the lowest level using comparable data since 1985.
The short supply of units means “rental inflation is not going away anytime soon,” Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC, wrote in a note to clients.
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