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                                                                   Cassandre Juste

Rental industry professionals had a strong 2012 by and large, and 2013 had a positive outlook as well.  Reis Inc., a real-estate market research firm, anticipate an average 4.1% increase in rents nationwide, with an effective rent of $1,091 per unit by the end of 2013.

But not all markets will be as lucky.

According to Reis, the following 10 cities are the markets where rents will rise the least in the coming year. Stan Humphries, the chief economist for Zillow, of the places on this list haven’t seen much recent improvement in home values, which can have a harsh effect on the rental side of the market. “There is a geographic bias here,” he said. “In terms of home value appreciation, the hot markets are the Sun Belt or big recession areas. The Midwest and Northeast are not doing as well in terms of home value performance.”

Fairfield County, Connecticut:

  • Effective rent at end of 2012: $1,819
  • Rent increase from 2011: 1.7%
  • Vacancy rate: 4.6%
  • Forecasted effective rent growth in 2013: 2%

Fairfield County is one of the country’s more expensive rental markets. According to the National Association of Realtors, the median price for a single-family home in the Bridgeport, Stamford and Norwalk metro area at the end of 2012 was $367,900. Zillow’s data show that Stamford has seen home prices fall more than 25% since the peak of the housing market, making homebuying look pretty appealing.

Charleston, North Carolina:

  • Effective rent at end of 2012: $794
  • Rent increase from 2011: 4.4%
  • Vacancy rate: 4.9%
  • Forecasted effective rent growth in 2013: 2.6%

The median price for a single-family home in Charleston and North Charleston at the end of 2012 was $208,000, according to National Association of Realtors.

Buffalo, New York:

  • Effective rent at end of 2012: $739
  • Rent increase from 2011: 3.3%
  • Vacancy rate: 3.2%
  • Forecasted effective rent growth in 2013: 2.8%

The National Association of Realtors would be reported the median price for a single-family home in Buffalo and Niagara Falls area to be around $128,200 at the end of 2012.

Knoxville, Tennesse:

  • Effective rent at end of 2012: $601
  • Rent increase from 2011: 3.1%
  • Vacancy rate: 5.4%
  • Forecasted effective rent growth in 2013: 2.8%

The median single-family home price was $142,100 at the end of 2012, according to the NAR.

Westchester County, New York:

  • Effective rent at end of 2012: $1,852
  • Rent increase from 2011: 2.2%
  • Vacancy rate: 3.5%
  • Forecasted effective rent growth in 2013: 2.8%

The median single-family home price in the metropolitan area that includes Westchester County, NY was $375,900 at the end of 2012, according to NAR.

Columbia, South Carolina:

  • Effective rent at end of 2012: $718
  • Rent increase from 2011: 3.2%
  • Vacancy rate: 6.9%
  • Forecasted effective rent growth in 2013: 3%

NAR reported the median single-family home price for Columbia at $137,800 at the end of 2012.

Little Rock, Arkansas:

  • Effective rent at end of 2012: $667
  • Rent increase from 2011: 3.4%
  • Vacancy rate: 5.7%
  • Forecasted effective rent growth in 2013: 3.1%

The median price of a single-family home for Little Rock and North Little Rock was $139,900 at the end of 2012, according to NAR.

Norfolk-Hampton, Virginia:

  • Effective rent at end of 2012: $893
  • Rent increase from 2011: 2.7%
  • Vacancy rate: 4%
  • Forecasted effective rent growth in 2013: 3.1%

The median price of a median single-family home for Virginia Beach, Norfolk and Newport News was $185,000 at the end of 2012, according to NAR.

New Haven, Connecticut:

  • Effective rent at end of 2012: $1,126
  • Rent increase from 2011: 2.6%
  • Vacancy rate: 2.4%
  • Forecasted effective rent growth in 2013: 3.1%

According to NAR, the median single-family home price for New Haven and Milford was $221,200 at the end of 2012.

Northern New Jersey:

  • Effective rent at end of 2012: $1,531
  • Rent increase from 2011: 2.6%
  • Vacancy rate: 3.8%
  • Forecasted effective rent growth in 2013: 3.2%

Northern New Jersey, which includes Bergen, East Essex, Hudson, Morris, Passaic, Union and West Essex counties, which are all included in the same area as West Chester County, PA as far as the NAR data is considered. The median price of a single-family home in the area was $375,900 at the end of 2012.


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