Rents surge again, vacancies drop

Rising rents have made buying a home more attractive. An article on Wednesday underscores the dynamic as Reuters reported that renting became more expensive and vacancies hit a 10-year low.

The vacancy rate was 4.7 percent, and asking rents increased to $1,091 a month, according to the report.

The rent increases were not just limited to big, urban areas, either. The report notes that mid-sized cities were seeing the increases as well.

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About Jon Broadbooks

Jon Broadbooks is Vice President/Communications for Illinois REALTORS®. He serves as editor of online and print content for the association’s communications including the Illinois REALTOR® magazine and e-newsletters. He conducts spokesperson training seminars and oversees website development for the Association.

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