Greenville South Carolina has Largest Rent Increase in Nation
Recently, the Wall Street Journal reported that the average apartment vacancy rate was 6.6% nationally. This is down from 8.0% last year, reflecting that more people are renting this year than there were the year before.
In addition, the number of occupied apartments rose by more during Q4 2010 than during any comparable period of the last 10 years.
What is most interesting is while the national average for rent increase is up just over 2%, Greenville, South Carolina rents have increased over 11% - topping the list for the largest rent increases nationally.
What does this mean? Well, several things could be contributing to this, most of which is that with rental occupancy around 93.5%,…