Listing prices of rentals on a national scale increased 6.7 percent year-over-year in June, according to a survey from one of the real estate search sites.
The research was centered on the average listing prices of 500,000 rental units on one of the real estate sites across the biggest U.S. metro regions between June 2010 and June of the current year.
When broken down by number of bedrooms, the statistics illustrated studios and five-bedroom houses surpassed the greatest rental price climbs. Rental prices per month for studios rose 14.3 percent, to an average $833. For five-bedroom housing units, rents increased 12.1 percent to an average $2,727.
The report stated that was a significant tendency that signifies a rising demand for rental housing facilities among first-time renters and larger families.
Rental prices per month for 1-bedroom homes rose a more modest 2.3 percent to an average $851; for 2-bedroom homes rose 2 percent to $1,020; for 3-bedroom homes increased 4.2 percent to $1,295; and for 4-bedroom homes jumped 5.3 percent to $1,832.
The existing demand for low-risk housing units may be caused by financial insecurity and an increasing national outlook questioning the future home values, the report also said.
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