New study shows positive rent growth for first time in 5 months
ST. JOSEPH COUNTY, Ind. -- A study from realty company CoStar and Apartments.com shows a positive trend in rent growth for the first time in 5 months.
The study says for the first time since August monthly rent rose, but experts say that doesn't mean we're seeing a new trend.
New data shows there are more than 7,500 rental properties in Elkhart, while there are more than 16,000 in South Bend.
So, if you're wondering when a good time to sign that lease may be, you should pay attention to the market now because the closer supply and demand are to being equal, the easier it will be for you to find your next rental.
Across Michiana, data also shows more people are moving out of their apartments than moving in.
It’s a common trend for landlords to start offering specials like discounts on rent or even a month or so rent-free, in an effort to fill those empty spots and lower the area’s vacancy percentage.
Right now, the vacancy rate is the highest in the east and north sides of South Bend, currently at almost 13%.
That may not sound that bad, but compare that to Cass County in Michigan, which sits at less than 1% vacancy rate.
You can find the full article and data here.