Rents are up, despite cities still struggling with unemployment and economic crises. The only city to see a decrease in rental prices for the third quarter of 2011 was Las Vegas. With more Americans veering away from home ownership, vacancies in apartment complexes are at their lowest level since 2006.
The rise in rent seems inconsistent with wage cuts and job losses, so perhaps the trend will soon stop if the economy continues to weaken. Currently, the average rent in (and within 10 miles of) Atlanta is $994 per month. One bedrooms average at $894, and two bedrooms at $963, as of September 2009 according to Rent Jungle.
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