ST Alpha - "8% for occupied apartments? That seems really high." (Reading a Post)

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In response to "in this town, rents go up an average of 8% per year. I have been in my apartment since december of 2010. my rent has gone up less than 1% in that time" by amanda

8% for occupied apartments? That seems really high.

Posted by Krusty (aka krustylu) Feb 27 '13, 07:51

Here it's more like 2% or so. I haven't seen my rent go up in like 5-6 years. It's been so long I'm not even sure when it was last raised. My landlord hasn't ever fixed a damn thing and my apartment is falling apart but at least my rent is cheap. :-)

Responses:

university town. my apartment, when I was in school in 2009, was $705 per month. it's $898 now *and* heat, which used to be included is no longer. - amanda Feb 27, 07:55 2
- Sheesh. That is way too high. The vast majority of people don't see their income keep up with that kind of increase. - Krusty Feb 27, 07:59 1
  - see below. the university, which is the biggest employer in town, had no salary increase in - amanda Feb 27, 08:03
college town -- nm - decline Feb 27, 07:53 12
- As I said below, we are college, but every year there are hundreds more rental units. -- nm - Spawn Feb 27, 08:01 5
  - we're actually getting 2500ish more beds in the next nine months. these units are bus-distance to town, though -- - amanda Feb 27, 08:05 3
    - I am not exagerating when I say the last 12-15 years there have been no less than 200 units added each and every year. - Spawn Feb 27, 08:09 2
      - here, read this - amanda Feb 27, 08:12 1
        
        Yeah, that looks like here. Now multiply that over 25 years, and you have it. - Spawn Feb 27, 08:15
  - I doubt there is very much development going on there -- nm - decline Feb 27, 08:04
- Why would that matter? Can college kids afford that kind of a raise? Seems like they would have a lot of turnover with those raises. - Krusty Feb 27, 07:55 5
  - College towns would have a lot of turnover anyway. -- nm - Roger More Feb 27, 08:11
  - because there is no rent control and landlords know they have students by the short hairs -- nm - decline Feb 27, 07:56 2
    - and its not like you can commute. State College is in the middle of nowhere -- nm - decline Feb 27, 07:57 1
      - patryk's rent goes up 5.5% for early sign per year (if you renew by 2/28, you get a discount), but his salary has effectively not changed in 4 years. - amanda Feb 27, 08:02
  - where else are they going to live? all rents go up that much. -- nm - amanda Feb 27, 07:55
Radically high, in fact. -- nm - Spawn Feb 27, 07:52 2
- You'd have to apply for permission to raise it that much here. -- nm - zork Feb 27, 07:53 1
  - We have so many new units being built every year, the city does well to not *drop* rates. - Spawn Feb 27, 08:00

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8% for occupied apartments? That seems really high.

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