Apartment rental prices are steadily rising in the United States. The average monthly rent has increased 0.5% from last quarter. According to a real estate research firm, Reis Inc, the nation’s average rent is approximately $1,054 a month. Multi-family housing vacancy rates fell to 4.3%, decreasing .02% from 2012’s last quarter. Since 2009, rental rates have increased more than 9%. A large number of renters are turning to home ownership due to the improving housing market. More here

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