Rental Vacancies
July 18th, 2010
Apartment living isn’t for everyone. You generally need to fit your family into a smaller space, you give up a personal yard (and a lawn mower, generally), and you have to suffer with sharing the swimming pool with your neighbors. And sometimes the fitness room, too. But if you think that apartment living might be right for you and your family, contact your renters insurance agent and start looking for a great apartment.
Right now, there are tons of rental vacancies, and rates are looking more and more reasonable. This is especially true if you live in one of these cities whose vacancy rates are through the roof:
- Austin, Texas. This is a great college town perfect for those who enjoy the night life. There’s a diverse music scene, and tons of interesting things to do. The city also has almost 16% of its apartments available to rent.
- Las Vegas, Nevada. Chances are you aren’t going to get rich on the slots or the blackjack tables, but you could roll the dice and find an awesome apartment at an affordable price. With a vacancy rate topping 16%, finding a place to call home (at least for the duration of the lease) should be no problem. Make sure you have renters insurance, though. The crime rates are rather high.
- Cleveland, Ohio. The heart of rock’n’roll is in Cleveland, but not much else is these days. This great blue collar industrial town has seen some roguh times. If you’re in the area and looking for an apartment, though, it works to your advantage. 16.8% of the apartments in Cleveland are uninhabited, making for some steals on really nice apartments.
- Indianapolis, Indiana. The economy’s actually pretty good (comparatively) in Indy. Home ownership is actually on the rise in the area. That means lots of available apartments. Over 17% of the apartments in the city are open.
- Phoenix, Arizona. Who knows, maybe it’s because migrants are fleeing, but Phoenix has 19% of its apartments open and available for rent. That should mean some excellent opportunities to lease a good place on the cheap.
- Detroit, Michigan. It’s the largest city in the state with the 50th best economy in the United States. The exodus over the past 20 years has left 19.9% of the apartments open. Hurry, go rent one before it tops 20%.
- Richmond, Virginia. With almost 24% of its apartments vacant, you won’t have any trouble finding a place. Finding neighbors, on the other hand, might just prove more difficult.
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