Renters need to brace themselves: Apartment rent is expected to continue to
outpace
inflation next year. It’s a landlord’s market, which means strong
demand continues to give landlords justification to hike rents. Rent growth will likely reach 3.9 percent in 2015,
only a slight dip from 4 percent this year, according to a recent
forecast released by the National Association of REALTORS®. For at least
two more years, vacancy rates for rental apartments are expected to
remain low. “Low
housing inventory and the sizable demand for rentals will continue to
spur multifamily construction as well as keep rents rising above
inflation through next year,” says Lawrence Yun, NAR’s chief economist, read more.
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