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U.S. Rental Market Poised to Make Bigger Gains

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Everything is blooming this year, including rents.

Everything is blooming this year, including rents.

Rents are rising across the United States, the result of a strengthening employment market, USA Today reported.

Real estate market watchers Reis and MPF Research forecast an increase in apartment rents nationwide, 4.3 percent and 5 percent, respectively.

The top two gainers for the first quarter of 2011 are: San Jose, with rents increasing 4.6 percent there, and New York, up 4.4 percent for the year. Both cities outpace the national average of nearly 2 percent from the same period last year.

The news comes on the heels of a study predicting that New York rents will rise 5.7 percent to $3,790 per month in 2011.

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Written by Bruno

2011.05.05 at 20:27

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