In cities across the United States, particularly in large real estate markets, rent prices have been skyrocketing. We have seen rent increases in many areas of Memphis as well as Dallas and Houston, although rents have not been rising like they have in some large cities across the country. Many rents are also rising in multi-unit complexes which are seeking to add more and more attractive amenities, but are not shy about raising the rent at the same time.
While many markets are recovering from the recession (some slower than others), the demand for rental units — whether single-family properties or apartments — is still very, very high and shows no signs of slowing down. Whether its residual fear of foreclosure or shifts in our goals and needs in residence, renting is popular.