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Neil Shekhter on How Much Average Apartment Rent Increased in 2017

LOS ANGELES, CA / ACCESSWIRE / February 19, 2018 / Rent prices can vary a huge amount depending on where a person might look. A recent comparison of 250 large cities all over the United States by RENTCafe' discovered that the typical apartment's rent has increased by 2.5%. This data is based on the findings of Yardi Matrix who found that that average rent typically runs about $1,359 a month. That's for a one bedroom. the two bedrooms run at $1,405. That is a 24% increase over the last ten years.

Interestingly enough, the prices in cities like San Fransisco and New York had a slower rate of increase. Manhattan and Brooklyn actually decreased during that time. Vegas experienced a crash in the market five years ago. It has since recovered with a 30% increase in rent prices. These types of fluctuations are fairly standard for the rental market.

Detroit's rate of increase was 5.6 during that same period and San Diego's was 5.5%. Dallas and Ft. Forth had the highest rent increase overall. All of the factors depend on some significant variances.

- Rents living in non-rent controlled areas pay more.
- Areas like Los Angeles remain steadily increasing over the years with little variance.
- the better the place, the more improvements that have been made, the more the rent will increase.

Of course the better the improvements, the more it will cost. That goes without saying. Wrap around porches and wine room with temperature controls and specialized security and door men all create a generalized specialty which costs far more than these averages. After all, a view of the statue of Liberty in Manhattan is not your typical apartment. It's a penthouse. that can run the renter anywhere from $45,000 to $100,000 a month.

Some places do have rent controls in place to help those people that have already moved in stay in place. Renters just need to shop around to find the best deals. It comes down to a compromise of what you want verses what you can afford. Let's face it, not everyone can handle the penthouse with the view financially.

The right search using the best search site can help anyone looking for their perfect apartment. Once there the renter can remain with a fixed rate. It just takes some homework before the choice is made. The worst choice is a complex where you have to move or pay a serious increase in rent. There are landlords who create excuses to get people out of the apartment.

NMS offers luxury apartment living in some of the most desirable locations across the country.

From Los Angeles to downtown Santa Monica, NMS offers apartment living in some of the most desirable locations across the Los Angeles area. Your friends will be envious of your Los Angeles apartment complete with upscale amenities and finishes. Some communities offer sophisticated amenities including swimming pools, fitness centers, and concierge services. NMS apartments in Los Angeles feature modern kitchens, walk-in closets, expansive floor plans, stainless steel appliances, deluxe flooring, and private balconies. Choose from studio, one, two, or three-bedroom apartment homes.

Launching NMS Properties in 1988, Neil Shekhter assumed the role of CEO in January 1995. The real estate management company focuses on multi-family and mixed-use properties in the Greater Los Angeles area and in Santa Monica. At present, NMS properties manages more than 70 properties.

Neil Shekhter - Founder and CEO of NMS Properties
Apartments For Rent In Los Angeles NMS Residential: http://www.nmsresidential.com
NMS Properties - Real Estate Management Firm: http://www.nmsproperties.com
Contact Information: info@NeilShekhter.com

SOURCE: NMS Properties, Inc.



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