Wednesday, October 7, 2009
Due to increase in unemployment, apartment vacancies have hit 23-year high in September. Rising vacancy rates are pushing down rents, wherein rents are falling 2.7 percent nationwide to an average of $972.
Some if the cities that have faced biggest decline in rents in the last 12 months are as follows:
1. San Jose, Calif.: 8 percent
2. New York: 6.8 percent
3. Orange County, Calif.: 5.5 percent
4. Ventura County, Calif.: 5.1 percent
5. Los Angeles: 4.6 percent
6. Miami: 4.6 percent
7. Las Vegas: 4.6 percent
Some if the cities that have faced biggest decline in rents in the last 12 months are as follows:
1. San Jose, Calif.: 8 percent
2. New York: 6.8 percent
3. Orange County, Calif.: 5.5 percent
4. Ventura County, Calif.: 5.1 percent
5. Los Angeles: 4.6 percent
6. Miami: 4.6 percent
7. Las Vegas: 4.6 percent



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