Incredible. According to apartment-finder website RadPad, in partnership with RentMetrics, “one-bedroom rentals have risen almost 10% since August 2012! For the typical renter, that means you’ll be paying almost $2,000 more in rent this year than you were last year.” They’ve provided an infographic of the pain (above). For the LA Weekly’s take on the story, click here.
Renting will always be popular, and for some people it absolutely fits their lifestyle. Others might rent their home as a purely financial consideration, meaning this data is a downer you probably didn’t want to hear. We’ll remind you that, in some cases, it actually costs more to rent than it would to own a home. And we also offer this good piece of news:
A unique opportunity for home ownership is coming soon to the heart of Northeast Los Angeles. It is a modern, earth-friendly design, centrally located and at a price-point that many current renters will find is within their reach. We’ll have more to tell you in the next few days. In the meantime, think about that 10% rise in rent that you may have experienced this year. And check back with us often to learn about this exciting opportunity to own your home; an exclusive offering from Tracy Do Real Estate.
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Graphic courtesy of onradpad.com.