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"Monroe County, New York was the No. 1 market in the country for one-bedroom rent increases in the month of September, according to a new study published Tuesday by Realtor.com.
“Fast-growing cities (e.g. Rochester, NY; Colorado Springs, CO) and spillover markets (e.g. Tacoma, WA) are seeing the largest increases in rents compared to last year,” economic data analyst Nicolas Bedo wrote.
The rental data compiled found that rents across the nation’s largest 100 counties are losing momentum, with year-over-year trends easing. In several major cities, rents are down “substantially” compared to last year.
Rochester is the exception to the trend, for one-bedroom units.
“Places like Monroe County, NY (Rochester) and El Paso County, CO (Colorado Springs) have been hot on the homebuying front for a while, and it’s no different on the rental side,” Bedo wrote. “The demand in these fast-growing markets is reflected in the growing rental prices. Monroe County, NY topped the list of fastest-growing rents for One-bedroom units, with the median rent at $1,049 in September, up 12.8 year-over-year."
"Monroe County, New York was the No. 1 market in the country for one-bedroom rent increases in the month of September, according to a new study published Tuesday by Realtor.com.
“Fast-growing cities (e.g. Rochester, NY; Colorado Springs, CO) and spillover markets (e.g. Tacoma, WA) are seeing the largest increases in rents compared to last year,” economic data analyst Nicolas Bedo wrote.
The rental data compiled found that rents across the nation’s largest 100 counties are losing momentum, with year-over-year trends easing. In several major cities, rents are down “substantially” compared to last year.
Rochester is the exception to the trend, for one-bedroom units.
“Places like Monroe County, NY (Rochester) and El Paso County, CO (Colorado Springs) have been hot on the homebuying front for a while, and it’s no different on the rental side,” Bedo wrote. “The demand in these fast-growing markets is reflected in the growing rental prices. Monroe County, NY topped the list of fastest-growing rents for One-bedroom units, with the median rent at $1,049 in September, up 12.8 year-over-year."
But what about the people who have to pay those increased rents?
One reason for the rent increase is increase in taxes. Landlords have no control over this as individuals, but when the masses vote for higher taxes, how can they complain when rents go up?
One reason for the rent increase is increase in taxes. Landlords have no control over this as individuals, but when the masses vote for higher taxes, how can they complain when rents go up?
How is this good news? Too many people are already struggling to make ends meet.
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