{"id":1613,"date":"2017-03-06T00:00:00","date_gmt":"2017-03-06T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/renters-may-get-upper-hand-in-2017\/"},"modified":"2017-03-06T00:00:00","modified_gmt":"2017-03-06T00:00:00","slug":"renters-may-get-upper-hand-in-2017","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/renters-may-get-upper-hand-in-2017\/","title":{"rendered":"Renters May Get Upper Hand in 2017"},"content":{"rendered":"

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Since the Great Recession from 2007\u20132009, renters have faced skyrocketing rents and landlords have enjoyed steadily growing profits. However, that may change in 2017, according to the latest forecast from Axiometrics.<\/p>\n

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Read more<\/strong>: ‘Bank of Mom and Dad’ Funds<\/a> Young Renters<\/span><\/p>\n<\/blockquote>\n

From 2010 to 2016, rent growth rose 150 basis points above the long-term average. But some markets where rents had been rising the most are starting to see declines occur.<\/p>\n

\u201cThe slower rent growth in 2017 is expected to benefit renters more than landlords,\u201d KC Sanjay, who leads Axiometrics\u2019 economists and analyst team, writes in a column at Forbes.com.<\/p>\n

During the past six years, the average annual rent increase was about $516. In 2017, it is expected to fall to about $347\u2014a $168 savings annually for renters.<\/p>\n

Further, out of the 54 major U.S. metros that Axiometrics researchers tracked, about 36 showed annual savings ranging anywhere from $8 to $2,647. The average decreases are about $360 from 2010\u20132016 prices.<\/p>\n

The Bay Area\u2014San Francisco, San Jose, and Oakland\u2014leads the nation in forecasted rental drops over this year. San Jose renters, for example, will likely pay $2,647 less a year compared to the 2010\u20132016 average rent. Annual savings in San Francisco will be $2,638 and $1,647 in Oakland this year, according to Axiometrics\u2019 data.<\/p>\n

Source: \u201cRenters vs. Landlords: Who Wins in 2017?\u201d Forbes.com (March 3, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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Since the Great Recession from 2007\u20132009, renters have faced skyrocketing rents and landlords have enjoyed steadily … Renters May Get Upper Hand in 2017<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1614,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[63,289,41,818,678],"class_list":["post-1613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-for-rent","tag-landlord","tag-property","tag-real","tag-rental"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/4SoZL2fMiJ0","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7691,"url":"https:\/\/amazingproperty.com.ng\/blog\/renting-population-drops-as-prices-bump-up\/","url_meta":{"origin":1613,"position":0},"title":"Renting Population Drops as Prices Bump Up","author":"Amazing Property","date":"January 4, 2018","format":false,"excerpt":"For the first time since 2004, the renter population decreased, according to the Annual Rent Report from ABODO, an apartment listing service. Still, renters continue to outpace owners, according to the report. There are about 43 million renters in the U.S., which is more than a third of U.S. households,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"2017 Rent Trends By State.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":692,"url":"https:\/\/amazingproperty.com.ng\/blog\/this-law-has-landlords-everywhere-worried\/","url_meta":{"origin":1613,"position":1},"title":"This Law Has Landlords Everywhere Worried","author":"Amazing Property","date":"February 9, 2017","format":false,"excerpt":"[ad_1] Portland, Ore., city council members want to put a stop to landlords sticking renters with higher rents. Last week, City Council members approved a \u201crelocation assistance\u201d bill that is raising eyebrows of landlords across the country. Here\u2019s what the new bill does: If a landlord raises the rent by\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2967,"url":"https:\/\/amazingproperty.com.ng\/blog\/have-rents-finally-hit-the-peak\/","url_meta":{"origin":1613,"position":2},"title":"Have Rents Finally Hit the Peak?","author":"Amazing Property","date":"April 4, 2017","format":false,"excerpt":"The pace of rising rents is slowing in many of the priciest markets and is now spreading to other parts of the country. That\u2019s good news for renters, especially those who are looking to save more to buy a house one day. 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Experts\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"Victoria Island in Lagos","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/Victoria-island-Lagos.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/Victoria-island-Lagos.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/Victoria-island-Lagos.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/Victoria-island-Lagos.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2020\/04\/Victoria-island-Lagos.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4171,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-the-suburbs-having-a-rental-boom\/","url_meta":{"origin":1613,"position":4},"title":"Are the Suburbs Having a Rental Boom?","author":"Amazing Property","date":"May 4, 2017","format":false,"excerpt":"After the recession, renters\u2014particularly millennials\u2014were flocking to urban areas, and as such, urban apartment construction surged to record-high levels. 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