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Increase in US rents beats rise in home values for first time since 2012
Add BT as a preferred sourcePublished Thu, May 21, 2015 · 09:50 PM
San Francisco
ADD one more marker in the timeline of soaring rental costs in the US: They just increased faster than home values for the first time since 2012.
Rents grew 4 per cent in the year ended in April, beating the 3 per cent rise in home values over the same period, according to figures released on Thursday by Seattle-based, property data provider Zillow Group Inc. Rental increases outpaced property values in 20 of the 35 largest US markets last month, with a handful of cities seeing landlord-friendly price growth even longer - since mid-2014. San Francisco's rapidly appreciating apartment costs beat gains in homes values in July, and Boston followed in August.
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