Wed July 11, 2012
New Hampshire Rental Rates On The Rise
The New Hampshire Housing Finance Authority has released its annual ‘Residential Rental Cost Survey.’ The survey shows increased rental costs coupled with decreased vacancies across the state.
The median monthly rent for a two bedroom unit including utilities has risen 3 percent in the past year to $1085 per month. The highest rent increases were evident in Grafton, Carroll and Belknap counties, as well as the cities of Manchester and Nashua.
Jane Law with the Housing Finance Authority says the rates reflect the state of the housing market in New Hampshire over the past year.
Fewer people were going into homeownership because of what the sales market looked like, there’s people coming out of homeownership and back into the rental market because of foreclosures. And so that among other things put pressure on the rental market.
And for the future, Law says foreclosures will likely increase the demand for rentals, keeping rental rates up.
View the complete survey here.