July 6, 2007
Bay state rental rates retreat
By Matthew L. Brown
A new report from Sunrise Management & Consulting of Latham, N.Y. says rental rates in the Massachusetts multifamily housing market fell during the spring.
The report covers New England and New York, and says rental rates in Massachusetts fell by $20. Rates in Maine and Rhode Island also decreased, the report said, while rates in New Hampshire were flat.
According to the report, the fastest growing multifamily rental market is western Connecticut, which Sunrise said saw a $54 increase in the spring after a $24 increase in the fall of 2006.
Sunrise's results come from surveys of 330,000 apartment units in 1,900 apartment communities in New York and New England.
The report covers New England and New York, and says rental rates in Massachusetts fell by $20. Rates in Maine and Rhode Island also decreased, the report said, while rates in New Hampshire were flat.
According to the report, the fastest growing multifamily rental market is western Connecticut, which Sunrise said saw a $54 increase in the spring after a $24 increase in the fall of 2006.
Sunrise's results come from surveys of 330,000 apartment units in 1,900 apartment communities in New York and New England.
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