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January 13, 2016

average cost of renting an apartment across united states

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"real estate prices in rental apartments showing sluggish growth"

WHY RENTAL COSTS IN UNITED STATES ARE STAGNANT 

The cost of renting an apartment in the US is showing signs of  sluggish growth

The above chart shows the cost of renting an apartment in the united states compared since 2007 onwards. While vacancy rates  slowed signs of  coming down, the average rental costs  has remained  constant, with very little upward movement
In 2011 the average rent for an apartment  was $1011, in 2012 it grew to a  mere $1050, less than 5% growth.
 In 2014  average rental costs in US  was at $1127 and  grew   less that 4%   compared to 2013
In 2015 this grew to $1179 , a growth of 4.6% compared to 2014.

One of the reasons why this is happening is the demand supply gap.. while there is a growing inventory of  apartments.. for users to choose from.. The number of users  among them has not increased in the same way the " supply side" apartments" have grown