Gazette staff's Your Business
by Gazette staff

Your Business

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Average monthly rent here: $1,248

By Bethany Bump
Tuesday, January 22, 2013

Asking rent in the Capital Region increased 6.53 percent from fall 2011 to fall 2012, according to a multifamily rental market report by Sunrise Management & Consulting.

The Albany-based property management company said its findings showed a steady growth pattern in most asking rents, in what appeared to be "an overall stabilizing Northeast Market Region from years past." The report covers rates in New York, Connecticut, Massachusetts, Maine, Rhode Island, Vermont and New Hampshire.

Every region in New York except for the Hudson Valley saw rental rates increase from from 2011 to fall 2012.

The average monthly rent in the Capital Region last fall was $1,248.37, up $76.50 from the fall of 2011. The average year a property was built was 1981, and the average square footage was 1,349 square feet.

Reach Gazette reporter Bethany Bump at 395-3107 or bbump@dailygazette.net.

 

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