May 13, 2015 Comments Off on Inland Empire Apartment Rents Skyrocket Views: 346 California News, Inland Empire

Inland Empire Apartment Rents Skyrocket

The Inland Empire had the fifth-highest rent increase in the country since the first quarter, according to firm RealFacts. Average rents rose $41, hitting $1,246 per month, a jump from the first quarter’s $1.205.

Additionally, in the Empire’s largest cities, occupancy is at a whopping 96 percent.

Much of this has to do with the improving economy, especially in the storage, warehouse and retail industries. It doesn’t hurt that major facilities are also being built, such as the 700,000-square-foot distribution center in Redlands.

And this is forecast to continue. Marcus & Millichap sees a full-year rent increase of 3.6 percent to five percent for the area

Read More at Press Enterprise


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