Cost of Renting at an All-Time High

According to data firm RealFacts the average monthly rent in the US hit $1,008, the highest level ever, besting the old high set during the third quarter of 2008.

As the difficulty to obtain a loan increases and the number of unemployed Americans remains high, renting becomes the only alternative for many. As a NYer I am accustomed to high rents, but now parts of the country that in the past had the luxury of cheap rent are rising dramatically.

From an investment viewpoint there are a handful of apartment REITs available. They include:

• $EQR
• $UDR
• $ESS
• $AIV
• $CPT