People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:


The article also cited results from a recent Reis Inc. report which revealed that average effective rents

rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have

risen at a rate of 2.7% annually.

Where are rents headed?

Jonathan Smoke, Chief Economist at realtor.com recently warned that:

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that

 they’ll outpace home price appreciation in the year ahead.”

Bottom Line

NAR’s Chief Economist, Lawrence Yun had this to say in the latest Existing Home Sales Report:

 "With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers

should be more active participants than what they are right now."




One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If

you are ready and willing to buy, let's meet up to determine if you are able to today!

I have been helping families buy and sell homes in the Reno/Sparks area for over 18 years.  It is vital

that you have a solid, well respected, and seasoned Realtor on your team when you are looking to

buy or sell a home. Please call me today and let's have a conversation about the market and how you

can take advantage of our increasing values and low interest rates.



Best,