Colli Real Estate

California Renters squeezed by lack of affordable rental

¯ t does not have to read several media out there two
increasing trends affecting the leasing and rental market. More and more tenants
are looking for their next apartment Online vs. traditional methods
and rental prices are rising, consumers are choosing to rent rather than buy
in pending sale price of homes to improve accessibility – as clearly
evident in California where the median sales price a home is $ 560, 690.
Across the country, the average selling price of a home is $ 248,000.

According Apartments.com, society carried about 45 million visits
2006, up 20 percent over 2005. The main markets looked on the site
with the greatest growth during 2005 were:

1. Chicago (214%)

2. Los Angeles (203%)

3. Phoenix (182%)

4. Ft Lauderdale (168%)

5. Atlanta (163%)

6. Detroit (158%)

7. New York (157%)

8. Tampa (156%)

9. Orlando (153%)

10. San Jose / Silicon Valley (144%)

Note that Los Angeles and San Jose, which are cities located in California,
indicate dramatic increase in search engine online to find affordable rents
housing.
Unfortunately for many tenants, as reported in item online in the United States 2/4/07
Today, owners are expected to raise apartment rents for a third consecutive year
year in 2007. In no way are we trying to take pictures in the pot-owners,
objective perspective on how the national rates rent from
those of California.

° With the expected increase of 5% this year, rents would be 14% higher than
the end of 2004, the report said. From 2000 to 2004, most owners could not
increase rents because many tenants will buy houses or condominiums. To
I think the buying frenzy, about 300,000 apartments were converted to condominiums
Sales Over the last three years. Now, even with 92,000 new rental units this year,
population is still too little to meet rising demand.

Rents are rising because of wage differences between rental and ownership remains
wide. Even with the increase This year the national average is one U.S. dollars 943
months, only 60% of the average mortgage payment of $ 1566. ± In California, the
the average is approximately $ 1400 per month, which is 47% of median
Mortgage payment $ 2,520.

And data from a report by the Census Bureau in 2000 showed that the highest rental
markets were in Irvine, Sunnyvale, Santa Clara or Fremont, California, all
cities where gross income means all exceeded $ 1200 per month. Who was six
ago.

California cities, said that nine of ten points listed in the 2000 census
Average highest among large U.S. cities. The only city in California in early
high income level was Stamford, Connecticut, 1007 $ per month.

Ten Major Cities Rental

IRVINE, Calif. – $ 1,272
Sunnyvale, California – $ 1,270
Santa Clara, California – 1238 $
Fremont, California – 1196 $
Thousand Oaks, California – $ 1,131
San Jose, California – 1123 $
Daly City California – $ 1,074
Simi Valley, California – $ 1,058
Stamford, Connecticut – $ 1,007
Huntington Beach, California – $ 985

Note that the Southern California is a vast geographical area of points
with hundreds of communities, it would be ridiculous to pretend that there
rentals affordable in some areas, however, as a tenant, you can realistically
expect to pay higher rents in neighborhoods desirable or communities
located along the coast. For a good perspective on the rental price and
desirable areas to live, conduct research online some and see the sites
as Realtor.com, Apartments, COM and Rent.com.

If you live in the Golden State ± ° line is your dream there are now more
Location of accessible sites with virtual tours, mapping tools and other
information, you can buy a rental in California from your desktop.

About the Author

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate industry for over 25+ years. Visit his website at Chino Hills Real Estate for information on foreclosures.

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