Cloudy
47°
Cloudy
Hi 48° | Lo 45°

Editorial: Hard times persist for state’s renters

Want more proof that the improving economy hasn’t quite reached everyone yet? A residential rent survey conducted for the state housing authority makes clear what those looking for apartments in Concord and farther south could tell you: A decent place to live at a reasonable price is hard to find.

Since 2006 rents for all types of apartments have increased by nearly 10 percent. For two-bedroom apartments, that figure is 7.3 percent. The gross median rent statewide is more than $1,000, including utilities; in Concord it’s $1,038. But even if you can afford that, overall vacancy rates remain low – below 4 percent.

Low vacancy rates and higher rents have continued despite new construction. The housing authority explains that new units are typically offered at higher rates to support the cost of construction. “While it’s good to see signs of construction activity, demand for affordable rental units remains high,” said Dean Christon, executive director of New Hampshire Housing, in releasing the statistics. “In addition, relatively high foreclosure rates and low sales activity over the past several years have created increased pressure on the rental market.”

More would-be tenants competing for not enough apartments and rents that are hard to meet. As politicians on their August break get reacquainted with their constituents, they should be prepared for an earful.

Legacy Comments4

It has always been the case that Concord does not have a lot of apts for rent. And vacancies have always been low. been that way since I moved here in 89. Folks do not move out of their apts because they have no other place to move to. What constitutes an affordable rent is what? Taxes have gone up year after year, so yes rents do go up. A person who owns a building does expect to make a profit, it is an investment, there are maintenance costs also. Seems that many folks believe that folks who own anything, should be limited on what they charge for rents, services, etc and be told what others feel is a fair profit margin. That is not how it works. I think anybody that is willing to be a landlord should be praised. The things that landlords often times have to deal with like the property being trashed, and late payments in rent, is not something many of us are willing to take on.

Thank you ......from a real estate investor

Two reasons- the renters are paying for the owner's property taxes, and greed.

Pure economics - stop Govt meddling and regulating the business and more supply will appear and prices will go down...the last sentence is so misguided it explains why the USA is going down the toilet

Post a Comment

You must be registered to comment on stories. Click here to register.