• The weak economy along with high credit and downpayment requirements combined to expand the demand for rental housing. Furthermore, the recent economic downturn and housing recession created credit problems for a large number of Americans.
  • This rapid expansion of demand for rental housing resulted in strong rent growth in the first 3 quarter of 2011, which is expected to increase by 3.2% and 3.5% in 2012 and 2013, respectively.
  • The two markets with the lowest rental vacancy rates were both in Massachusetts; Worcester and Springfield.
  • Curious about rental vacancy rates in your market? For more information, see the Local Market Reports for the 3rd quarter of 2011.