Rents In The Nation’s 25 Biggest Rental Markets Have Fallen Slightly In The Last Year

THIS IS 2016 so by the time you read this I am saying in 2018-2019 the real estae market will correct itself. So some high flying cities will see the pain....It will happen when is hard to say. With interst rates at zero for 8 years and the gov is still talking about a recovery?? What was the last 8 years supoose to be the twightlight zone? GOOD LUCK and be careful. When the Real estae market corrects as it will. It will be UGLY for the world econmy.

Vincent D Murphy Real Estae Adviser and owner Primo realty Boston and City scape properties Miami and Tampa FL

Rents in the nation’s 25 biggest rental markets have fallen slightly in the last year. But many metro areas, especially Oakland, Orange County, Calif., and Phoenix, are seeing affordable listings disappear. Meanwhile, Miami, New York, and San Francisco are still home to the nation’s least-affordable rental markets with sky-high rents. First, the good news: Rents in the nation’s top 25 rental markets have dropped slightly. The bad news? For the most part, rental homes are still expensive and in some places rental costs are rising. We conducted a follow up study to our analysis on how high rents were at the end of last year. We found that rents in the 25 metro areas with the largest rental markets declined 1.6% from 2015 to 2016. But relative to historical pricing, rents are still very high, and have become less affordable in areas that had been financially accessible. Proportion of Affordable Rental Listings

By Metro Area U.S. Metro Area % of Affordable Listings April 2016 % of Affordable Listings April 2015 Percentage Point Change Affordability determined by median household income

Oakland-Hayward-Berkeley, CA 46.2% 66.0% -19.8 Orange County, CA 53.6% 64.3% -10.8

Phoenix-Mesa-Scottsdale, AZ 78.1% 87.5% -9.4 Portland-Vancouver-Hillsboro, OR-WA 72.7% 78.8% -6.2

Seattle-Bellevue-Everett, WA 70.5% 75.4% -4.9

San Francisco-Redwood City-South San Francisco, CA 22.2% 26.5% -4.2

Atlanta-Sandy Springs-Roswell, GA 55.9% 59.4% -3.5

Boston, MA 49.2% 51.8% -2.7

Tampa-St. Petersburg-Clearwater, FL 63.7% 65.8% -2.0

Miami-Miami Beach-Kendall, FL 6.9% 8.8% -1.8

Los Angeles-Long Beach-Glendale, CA 32.1% 33.8% -1.8

Riverside-San Bernardino-Ontario, CA 91.7% 92.6% -0.9

San Diego-Carlsbad, CA 61.7% 62.0% -0.2

St. Louis, MO 94.9% 94.6% 0.2

Baltimore-Columbia-Towson, MD 91.6% 91.1% 0.5

Cambridge-Newtown-Framingham, MA 53.1% 52.5% 0.6

Denver-Aurora-Lakewood, CO 73.7% 72.5% 1.2

Washington-Arlington-Alexandria, DC-VA-MD-WV 70.0% 68.6% 1.4

Newark, NJ-PA 97.8% 96.3% 1.6

Houston-The Woodlands-Sugarland, TX 71.1% 69.4% 1.7

Minneapolis-St. Paul-Bloomington, MN-WI 90.0% 87.6% 2.4

New York-Jersey City-White Plains, NY-NJ 19.6% 15.5% 4.1

Dallas-Plano-Irving, TX 71.4% 64.4% 7.0

Chicago-Naperville-Arlington Heights, IL 50.3% 41.8% 8.5

Philadelphia, PA -

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