Wednesday, August 2, 2017

Hot Rentals

The heat is on, on the street
Inside your head, on every beat
And the beat's so loud, deep inside
The pressure's high, just to stay alive
'Cause the heat is on
--Glenn Frey

I haven't rented since the early 1990s. Back then I was paying low to mid $300/month for a single bedroom unit with detached garage. From the looks of the below chart, I was probably just about average after factoring in my apartment's size.

Fast forward 25 years and rents have more than doubled nationwide. A brief scan of rents for open units in my former stomping grounds is consistent with the trend.

For renters, the heat in on.

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