The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Wednesday, September 21, 2016
Rents Up Nationwide, Starting to Fall in Some West Coast Cities
According to the Abodo National Apartment Report for September, rents are up overall nationwide, with the average rent for a one-bedroom apartment increasing from $932 in August to $940 in September. However some West Coast cities have seen rents drop. Seattle tops the lists of cities that have seen a large decrease in rents, with a 13% decline since August. Also on the list are California cities such as San Jose, Los Angeles, Long Beach, and San Francisco. Miami, Bakersfield, CA, and Philadelphia topped the list of cities with the fastest rising rents. Read more.