Renters Are Feeling Pressure Again After Rent Rises Nearly 5% In 2015

Greyhound Cuts 260 Small Towns And Communities

Over the last several years, the number of people in the United States who choose to rent has been soaring to new heights. When the housing market crashed just about a decade ago, many home owners found themselves forced to leave their homes, and although the economy has improved considerably in recent years, many people have not returned to home ownership. However, with an influx of people looking to rent, property managers and landlords have had the advantage of being able to charge very competitive rent prices, which over the years, have risen beyond belief. Although many people initially opted to rent as a way to save money, it looks like those days are long gone – and are only fading further into the past.

A recent report printed in The Wall Street Journal shows that rent prices raised 4.6% percent over the course of 2015. Those numbers mean that the real estate market for renters is one of the competitive and expensive the country has seen in years. With the average cost of rent at a whopping $1,080, there are millions of renters feeling the pressure. The study showed that the rise in rent is a result of the following factors: “a low rate of homeownership (63.7 percent), a dearth of apartments with mid-range prices, and more difficult, post-recession lending standards for homebuyers.” The increase in rent isn’t just causing a problem for those living in traditionally upper-class areas. In fact, there is a trickle down effect that is even causing extreme increases in areas that were once not very popular. However, with the new year just getting off to a start, many are hoping that 2016 will bring better news for renters.

(Photo by Spencer Platt/Getty Images for Fortune Magazine)

Add Comment

Report Sees U.S. Home Affordability at 8-Year Low
Pending Home Sales Fall Again in November
Home Prices Post the Largest Gain in 14 Months
Seasoned and Sourced: Minding your Mortgage Money
Attic Design Backyard Design Basement Design Bathroom Design Bedroom Design Closet Design Dining Room Design Fireplace Design Ideas Kitchen Design Landscaping Ideas Lighting Living Room Design Office Design Shower Design Ideas Swimming Pool Ideas
Is Your Plumbing Getting in the Way of Your Home Renovation?
large living room with modern chandelier
20 Living Room Ideas With French Doors
beautiful backyard pond
20 Of The Most Beautiful Garden Ideas With Ponds
Moving Mindset: 3 Efficient Ways To Get Your New Home In Order
The Top Ideas to Help You Effortlessly Keep Your Home Clean
5 Things to Know about Water Heater Maintenance
5 Ways to Make Your Windows More Secure
Chatbot Technology is Making Real Estate Businesses Run More Smoothly
9 Unique Ways to Use a Home Security Camera
The $100 Bed Arianna Huffington Is Selling For Your Phone
Five Apps Realtors should be Thankful for in 2016
Five Trends in Chicago Housing for 2017
Top 10 Mid-Century Modern Homes in and Around Boston
The Top 10 Cities to Move to in 2017
The 10 Most Competitive U.S. Neighborhoods for Homebuyers
exterior view of eco lodges
This French Hotel Will Make Your Stay Unforgettable
side exterior view of endesa pavilion
ENDESA Pavilion Features Cool Multi-Scale Design
exterior view of home in thailand
This Contemporary Four-Story House In Thailand Is One Of A Kind
exterior view of structure with brick images
The “House Of Memory” In Italy Has A Design You’ll Never Forget