Rental Market for St. Louis Apartments to Shrink in 2012
The 2012 St. Louis apartment rental market is quickly gaining steam, bringing an end to a decade-long down cycle. The main factors driving this trend are historically low vacancy rates and current renters who choose to extend their leases.
The 2012 St. Louis apartment rental market is quickly gaining steam, bringing an end to a decade-long down cycle. The main factors driving this trend are historically low vacancy rates and current renters who choose to extend their leases instead of moving. The result is in a very tight supply of St. Louis apartments on the market to choose from. Consequently, prospective renters must act quickly to get the best apartment at the best price.
“After ten years of a renter’s market, prospective tenants should to be prepared to secure an apartment as quickly as possible. If they wait too long, the apartment could be gone and there is also a chance the rent will be higher,” says Steve Barron, President of Philip H. Barron Realty.
The improved rental market is a direct result of the housing crisis. Even though homes prices and interest rates appear very attractive, the barriers to enter the market remain high. The inability to secure favorable financing, along with the high costs of home ownership, are driving renters to apartments faster than ever. Renting will allow you to live with relatively fixed expenses, allowing the flexibility to move when the housing market improves, or when a job change requires it.
“Unless you can see the value of your home increasing in the next 3- 5 years, it does not make sense to own. Renters who are just starting out should seek a flexible and affordable living situation. It’s a great time to save some money on St. Louis apartments,” says Barron.
About Barron Realty
Philip H. Barron Realty is a family-owned real estate investment firm that has been providing desirable apartments to the St. Louis area since 1965. Their properties are located in the Central Corridor including: Clayton; University City; Brentwood; the Central West End and the City of St. Louis.
- Contact Information
- Steve Barron
- Philip H. Barron Realty
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.