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May 31, 2009

Real estate poll results: Rental costs

More people are renting because of the housing slump -- some by choice, some not. That's the sort of thing that would normally drive up rents ... except that more homeowners are turning landlord because they can't sell for the price they want.

What's all this mean for rental costs? I asked you tenants out there, and you weighed in on the latest Wonk poll. As of right now:

Forty-one percent of you said your monthly rent has risen this year or is due to rise. (About half are seeing a big increase and half are seeing a small increase.)

Another 41 percent said your rental costs have stayed the same.

And eighteen percent are the lucky ones whose rent has dropped or is due to drop. (A small decrease for most of you in that group. A big one for a really fortunate few.)

Thanks for taking the poll, folks. I'd be interested to know whether you tenants seeing declines in rent are in apartment units or homes. And whether people hit with big increases are planning to move.

Got a suggestion for a future poll? Let me know.

Posted by Jamie Smith Hopkins at 8:10 PM | | Comments (0)
Categories: Polls
        

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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