Rent Statistics: The Average Monthly U.S. Rent for Apartments hit $1,008May 10, 2012 6:01 pm
This is an all time high. We have written multiple posts on Rent Vs Buy – we spotted this today:
“Rents are surging from New York to Los Angeles. The average monthly U.S. rent for apartments hit $1,008 in the first quarter, pushing past the all-time high set in the third quarter of 2008, according to the data firm RealFacts. USC’s Lusk Center for Real Estate forecasts a 10% jump in Los Angeles County rents over the next two years. In certain markets, it is now cheaper to own a home than rent.”
Statistics Source: LATimes
It is cheaper to own a house than to rent – yes, we have seen that one before. Particularly, with ever-falling housing prices.