My rent is going up how much?

rental art for mysite

The average monthly rent in Palm Beach County will rise 6.6 percent in 2015 to $1,404, real estate brokerage Marcus & Millichap predicted in a report released Tuesday.

Apartment rents rose 8 percent last year. A healthy job market and increasingly unaffordable home prices are pushing rents up, Marcus & Millichap said.

With vacancies low and rents up, a building boom is under way. Some 2,100 apartments are under construction and on schedule for delivery next year, including 1,100 units in Boca Raton, Marcus & Millichap said. Projects slated for delivery include the 104-unit Riverwalk Pointe in Jupiter, a senior complex, and 55 affordable rentals in La Joya Villages in Lake Worth.

Reader Comments 0

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Basic HTML is allowed. Your email address will not be published.

Subscribe to this comment feed via RSS