Rents Continue to Rise at Rapid Rate

Landlords are quickly raising their rents as the national vacancy rate dips to the lowest level in two decades. The National Association of REALTORS® recently fore...

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Rents Continue to Rise at Rapid Rate

Posted by Danny Force on Monday, December 22nd, 2014 at 10:33am.

Landlords are quickly raising their rents as the national vacancy rate dips to the lowest level in two decades.

The National Association of REALTORS® recently forecast that 2015 will continue to be a “landlord’s market” as rent growth continues to run higher than overall inflation. However, NAR does project that rent growth will start to cool — though only slightly — next year: Rent growth is expected to reach 3.9 percent in 2015 compared with 4 percent this year. The annual rent inflation reached 3.5 percent in November, the highest growth since November 2008, and up from 3.3 percent in October, according to a Bureau of Labor Statistics report.

If you're paying $1,500 a month in rent, that's $18,000 a year that's going towards someone else's asset. It's basically money thrown away. In most cases, the rental cost exceeds what the mortgage would be with taxes and insurance. With mortgage rates as cheap as they are, why wouldn't you at least check into how much you would qualify for? You might be surprised what you'll find out.

Let's put it this way: you wouldn't drive a rental car permanently. You shouldn't rent a home when you can own one.

Click here to get the process started of finding your new home!


Danny Force, Realtor
DFW Legacy Real Estate Group
613 N. Walnut St.
Roanoke, TX 76262
C: 817-903-5442
danny@dannyforce.com

1 Response to "Rents Continue to Rise at Rapid Rate"

6 Great Reasons to Buy a Home in 2016 wrote: [...]asset rather than handing it over to your landlord and saying goodbye to it forever?”
In fact, I blogged about this very topic in December of 2014. High demand means higher rents. If you can afford to buy, you need to.
Anyone[...]

Posted on Monday, December 28th, 2015 at 1:18pm.

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