Business Week posted a great article a couple of weeks ago stating that “It’s now a renter’s market”. According to the article many apartment buildings have been cutting great deals to retain current residents and attract new ones. In general trends in renting vs. buying are tightly related to the market. In the last six months high for-sale inventories, tax-credits, and lower prices, have created a Renter’s Market.

 According to Reis “Half of apartment buildings reduced rents in the fourth quarter of last year and the first quarter of this year” which is notably the highest rates since Reis began tracking rental data in 1980.

So if your not looking to buy… now is the time to rent. Not only are many apartment buildings cutting rent, but they’re offering a couple months free rent too! It’s even a great time to Trade Up! Many people are asking for bigger apartments at the same rate. The bigger deals will be in the bigger cities where lower housing prices have made home ownership more affordable, and therefore opened some rental inventory. Reis and Business Week worked together to find the biggest cities with the most affordable rents. Based on percentage of income spent on rent, they listed their top 25 cities.

In six of those cities with affordable housing prices as well as attractive rental rates, are four of our Enterprise Network Members:

1. Ebby Haliday Realtors- www.ebby.com
2. Helen Adams Realty- www.helenadamsrealty.com
3. Kentwood Companies- www.denverrealestate.com
4. Milestone Realty Consultants- www.milestonerc.com

Read the full Business Week article here…

View the Business Week/ Reis Big Cities with Affordable Rents…