Average rent exceeds $2000 and a ‘war’ breaks out for available rental properties | Univision money news

Average rent property Exceeded $2000 in the United States And rents are expected to remain high as more people wait to buy a home amid rising mortgage interest rates, according to a report from industrial company Redfin.

Redvin explained that in addition to the fact that some people put off buying a house or apartment, others chose to live on their own, which has generated a kind of “war” on the few properties available for rent.

“This is some pressure on the demand side that keeps prices high. While renting is now more expensive, it is also more attractive to a lot of people because mortgages have exceeded rents in many homes this year.”Taylor Marr, chief economist at Redfin, added in the report.

Mar estimated that the rise in rental costs will slow in the coming months. But he warned that rents would remain high and complicate the budget for some tenants.

A “war” in which many offer more money for rent

People from all over the four countries told various media that in the midst of this ‘rent war’ They had to give more money than the owner is asking to secure a house, And in some cases this was not enough because someone offered so much more.

Such was the case for Brandon Schwedis in Port Orange, Florida. A few months ago he had to move because the house he was renting would be sold, he told NPR Public Radio. With a tight budget and above the $1,400 he was paying, Schwedis rented another home for $1,750 a month. To his surprise, the real estate agent turned down his request because someone else offered an extra $200 for the house, a situation that has been repeated in other cities.

“I’ve lived in the same area for 20 years. I know how much these homes were renting and how much they sold. But what’s happened in the past two years has been a ‘boom’… devastation,” he told NPR.

The coup that Schwedis is talking about has put low-income people in particular in a bind. According to a recent Redfin report, Rents nationwide are up 15% per year In May and in some cities like Austin, Texas, they jumped nearly 50%, the biggest rise since they started keeping records in 2019.

He added that in Nashville, Tennessee, Seattle, Washington and Cincinnati, Ohio, they were up more than 30% annually. In the Florida market, rents have also continued to rise: in Miami, Fort Lauderdale and West Palm Beach, rents are up 29% per year.

The same is true in New York and New Jersey for annual increases of 24% in New York City, Nassau County and New Brunswick, New Jersey.

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