Research Rental Rates
Rental rates are soaring because of increased demand. When the housing market dipped in 2008, many homeowners were displaced. Plus, saving money for a down payment on a home has gotten harder with more people struggling to pay down student loan debt and save for retirement.
What is the average cost for a rental in your state? Let’s find out:
- Think about the state in which you live and mentally calculate what you think the average price is for a rental unit in your state.
- Now use this interactive map from MyApartmentMap.com to see what the actual average is for the state in which you live.
Were you near the actual amount? Are you surprised? Before you shop for a rental home in your specific area, having information on average rental prices, especially depending on the size and number of bedrooms, can be helpful.