With home ownership rates at historically low levels and a lack of affordable housing options in all major metro areas, renting becomes a challenge for renters all across the US, particularly low- and middle-income earners. Rents have been steadily rising for the past year, with the national average for an apartment hitting an all-time high of $1,181 in March 2016, up 5.7% from 2015.
Looking ahead, it becomes pretty clear that it’s not a question of “if” anymore, it’s about how much Orlando rents will increase this year. If the Southeast and the Northeast Corridor maintain a fairly normal pace in rent growth, the West is expected to rock the landlords’ world and post record-breaking price increases this year.
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