Seminar topik bagaimana sewa atau beli rumah di amerika
TEN LARGEST EFFECTIVE RENT REDUCTIONS OVER THE PAST YEAR
1. TEN LARGEST EFFECTIVE RENT REDUCTIONS OVER THE PAST YEAR
One of the many immediate and effective ways to improve and boost the real
estate market is to decrease apartment rents. Aside from all the other efforts
industry experts are continuously working on, this “rent reducing” is fast
becoming a favorable solution by many. Apartment occupancies and their
respective communities are significantly improving because of this positive
domino effect.
A recent study conducted by the Wall Street Journal shows the ten largest
effective rent reductions over the past 12 months here in the United States. The
study, as of the second quarter of 2009, shows primarily the rate (percentile-
based) of decrease from the past year and its corresponding Average Monthly
Rent (AMR).
It is notable to point out that the decrease is based on the percentile rate of its
reduction in rent and not on the AMR of the county/city, as different cities have
different property values to begin with. Such notable result is California’s San
Jose, San Bernardino/Riverside, Ventura County, and Orange County. They
have different rates of rent reduction but one city/county’s AMR is higher or lower
than the others’.
Top on the list is New York’s 5.8% rent drop, making their AMR of $2,680. This
is followed by San Jose, California, whose 5.1% rent decrease makes their AMR
at $1,430. San Francisco is not too far behind as theirs had a 4.7% drop, making
their AMR at $1,740.
San Bernardino/Riverside, California, reduced their rate to 4.0%, making their
AMR at $1,000. While Miami’s 3.9% reduction made their AMR at $1,020.
Fairfield County in Connecticut had a 3.8% reduction making their AMR at
$1,690.
Ventura County and Orange County in California had the same 3.6% reduction in
rent, making their AMR $1,360 and $1,470 respectively.
Las Vegas showed a 3.4% reduction but registered having the notably lowest
AMR of $800 amongst the ten counties/cities.
Last on the list is Long Island, New York. Its 3.3% reduction has made its AMR
into $1,470.
Market forecasters say that the trend for the coming months is gearing towards
lower rents all over the country and these changes will definitely help the
market’s improvement.
