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Apartment Rents on the Rise

Rents rose almost one percent last quarter in the nation's largest metropolitan areas, and San Francisco kept its spot as the best rental market — for landlords, that is. Rents in SF have increased 11.5 percent in just one year, and last quarter alone they increased 2.1 percent bringing the average apartment rent to $1,801. Rents have also been increasing in Seattle, WA, Omaha, NE, Los Angeles, and New York. Several cities in Florida have the weakest rental markets because of the large amount of condos and houses that have been put on the market for rent on top of the existing apartments.

I'm keeping my eye on the house prices in the Bay Area, while keeping my fingers crossed that my landlord doesn't raise my rent!

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akosijen akosijen 7 years
Ugh, I got a really good deal on an apartment in Seattle, 775 for a huge one bedroom. But after a year, the rent jumped to $860. I said no thanks and found a cozier studio for 710 in a great area.
j2e1n9 j2e1n9 7 years
Glad I own instead.
Beauty Beauty 7 years
I wanted to move to a different apartment this year, but after looking on Craigslist, I doubt that will be possible. I'd have to pay more to get less apartment. Blah!
lightheaded lightheaded 7 years
Where I live, you can pretty much count on a rent increase every year... sad.
Phasekitty Phasekitty 7 years
I think they can only raise your rent 4% a year. They raised ours 4% last February, but haven't done it yet this year. We got our apartment pretty cheap (but for a reason- our management company is awful), but we can't even dream about moving now because the rent for 2 bedrooms in our area has gone up so drastically.
princessjaslew princessjaslew 7 years
argh. the bad news never seems to stop.
kristennn kristennn 7 years
I live in Los Angeles and my rent went up $125 last month. I was definitely NOT happy about that, but since I need to live close to my job, it seems like I don't really have a choice.
freegracefrom freegracefrom 7 years
Crazy. I don't envy you girls in San Francisco one bit. For a variety of reasons. Yeah, we have the opposite effect where I'm at in Florida. There was a big housing boom in my part of Florida, with developers going hog wild building up multitudes of developments with so many new homes. Real estate investors were buying up everything and flipping them for a quick and easy profit. Now, with the big crisis, everyone's afraid to buy... so people are forced to take down their "for sale" signs in lieu of "for rent" signs just to make ends meet with insurance and taxes. We've been seeing far more reasonable rents again! :D
MandyJoBo MandyJoBo 7 years
Isn't the cost of living higher in general there? Our cost of living is low. We have a 2 bed/2 bath/attached 2-car garage/1200 SF/2-story townhouse with an atrium, dual central air (top floor and bottom floor), 14-ft ceilings, huge walk-in closets, glass showers and separate tubs, ceramic tile, dishwasher, washer/dryer hookup, new kitchen appliances, and pretty details for only... *drum roll* $820/mo. Also in the best part of town! But, I also live in a city without a Whole Foods or a Saks, so...you tell me if it's worth it or not. I think I'd rather live in SF. :)
MandyJoBo MandyJoBo 7 years
Isn't the cost of living higher in general there? Our cost of living is low. We have a 2 bed/2 bath/attached 2-car garage/1200 SF/2-story townhouse with an atrium, dual central air (top floor and bottom floor), 14-ft ceilings, huge walk-in closets, glass showers and separate tubs, ceramic tile, dishwasher, washer/dryer hookup, new kitchen appliances, and pretty details for only... *drum roll* $820/mo. Also in the best part of town! But, I also live in a city without a Whole Foods or a Saks, so...you tell me if it's worth it or not. I think I'd rather live in SF. :)
SDTransplant SDTransplant 7 years
Rents in Boston are so high (and the apartments so old and tiny) for the most part that my b/f and I got an apt. in the suburbs. Our rent went up $25 from $1075 in 2005 to $1100 2006 for a 1 bdrm, but last year, my b/f, able negotiator he is, was able to convince our rental company not to increase our rent at all. Where we live has a lot of rental units--an ideal place to rent, but not an ideal place to buy if the apts. and townhouses were to be converted into condos--and his reasoning was that since they have such high turnover of tenants, they would be willing to keep us as renters even if they couldn't increase our rent.
melyshka melyshka 7 years
rosadilla: when i last signed a lease in brooklyn for a one bedroom, it was $1575. i was sharing w/ my SO at the time, but if that was in 2002, sounds like you have a relatively "good" deal. now i'm living in SF. i can't stay away from high rents apparently...
melyshka melyshka 7 years
rosadilla: when i last signed a lease in brooklyn for a one bedroom, it was $1575. i was sharing w/ my SO at the time, but if that was in 2002, sounds like you have a relatively "good" deal. now i'm living in SF. i can't stay away from high rents apparently...
Kelly-O Kelly-O 7 years
We're looking here in Birmingham, because we want to be closer to our jobs with gas prices going so high, and even here things just get higher and higher. We totally lucked up in Dallas with our nice big apartment and reasonable rent, even though they did go up on us the last year we were there.
phatE phatE 7 years
one bedroom in texas - 1029, and i have a deal.. it's going rate is about 1300 now with NO bills included..
RosaDilia RosaDilia 7 years
Pfft, the rent in Brooklyn, NY is getting ridiculous. The average one bedroom in Bklyn is $1100. As a single parent I can't afford a two bedroom, those are going for $1400 and over without utilities!!!
WhatTheFrockBlog WhatTheFrockBlog 7 years
Isn't there a limit to how much your landlord can raise your rent every year? I think it's a very small percentage. Or maybe that varies by city or state.I totally lucked out with my apartment. It's a large two-bedroom with deck and a great view in a great area of the city, and we're paying about half of what our neighbors pay. I keep crossing my fingers that my landlord doesn't realize that he can get a lot more. Because even if he can't significantly raise our rent, he CAN ask us to leave so that someone ELSE can pay a lot more.
WhatTheFrockBlog WhatTheFrockBlog 7 years
Isn't there a limit to how much your landlord can raise your rent every year? I think it's a very small percentage. Or maybe that varies by city or state. I totally lucked out with my apartment. It's a large two-bedroom with deck and a great view in a great area of the city, and we're paying about half of what our neighbors pay. I keep crossing my fingers that my landlord doesn't realize that he can get a lot more. Because even if he can't significantly raise our rent, he CAN ask us to leave so that someone ELSE can pay a lot more.
Lovely_1 Lovely_1 7 years
Wow. Rent is cheap in the states :P
bellaressa bellaressa 7 years
Yeah, my rent went up $15.00. Sighs, I am still saving for a home. I am going to stay at my current rent b/c it's still cheaper than most of my friends and the national average. So, I will just be staying here and trying to save more for my emerg fund and home fund.
CaterpillarGirl CaterpillarGirl 7 years
i was JUST talking to my landlord about this. our rent just went up 30 bucks, but we are still paying less than what they are going for because we have been there forever. when he told me what my place is now, i almost crapped my pants. Studio apartments in my neighborhood, and i am talking one room, a tiny bathroom, and a corner kitchen...615$ a month. when I rented those same studios 9 years ago they were 250.
CaterpillarGirl CaterpillarGirl 7 years
i was JUST talking to my landlord about this. our rent just went up 30 bucks, but we are still paying less than what they are going for because we have been there forever. when he told me what my place is now, i almost crapped my pants.Studio apartments in my neighborhood, and i am talking one room, a tiny bathroom, and a corner kitchen...615$ a month. when I rented those same studios 9 years ago they were 250.
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