The new year could bring higher rent for apartment dwellers. A new study by the Association of Realtors predicts rental rates for apartments will increase nationwide in 2013. The new study says apartment rents are expected to go up nearly 5% nationwide. Which would increase a $700 monthly rent by about $35.
"If it goes up a couple of pennies here and there that's fine. but if it jumps like 20, 30 cents on the dollar, then that's ridiculous because then you start to question: where is the money going?" said Greenville renter Stanley Robinson.
The predicted increase is less than 5% or 5 cents on the dollar.
Property managers we spoke with remind renters if you are locked into a lease, your rent rates shouldn't increase until that lease ends.