If you’re looking to find an apartment to move into, it might be a good idea to act sooner rather than later. According to an article about falling vacancies on Bloomberg Businessweek, the apartment vacancy rate has declined from 8.2 percent in December 2009 to 6.6 percent in June 2010, no small figure, since this translates to an increase of 215,000 occupied apartments in the 64 largest U.S. markets. The analysts who published the study cited by Businessweek, MPF research, pointed to a cautiously improving job market as the source of this decline in vacancies.
Many of these people moving into apartments are in the coveted 20-29 age bracket, so prized by landlords because most of them looking to live alone do so by renting, not by owning. Though the recovery, as previously mentioned, has been rather slow, it’s still been enough to add an average of 147,000 jobs per month from January through June. May and June of 2010 marked the first two months where employment for the 20-29 age group has risen over the same months in the year prior since the tail end of 2007, which is a cautiously positive indicator.
Though these signs are hardly pronounced trends, the increase in employment might have been enough, the article goes on to suppose, to jump-start some young people sharing apartments to strike out on their own, renting apartments to themselves. Should this behavior continue, there is a good chance that vacancy rates will continue to fall.
Whether you’re a young whippersnapper moving for the first time or not, if you’re on the market for an apartment for rent, consider using our search tools, which will help you find an apartment just about anywhere you’re looking in the United States. “Anywhere” includes Dallas apartments, Phoenix apartments, Austin apartments, and Seattle apartments, but extends to practically the entire Union. We happen to think what our site offers is reward enough, however, we’ve sweetened the pot anyway. If you do find what you’re looking for at ApartmentSearch, you may be eligible to earn up to $200 in renter rewards. So check it out!