Rent on the median 1-bedroom apartment across the country is now $1450.
Which is insane.
Want to know what it is in New York?
Before I give you the answer, I want to make sure you’re in on a little secret…
I sent Jarrod a mystery briefcase.
He thinks it’s a joke…
But what’s inside is a game changer.
I did play a little prank on him though.
OK, back to the content.
The National Rent Report is in.
And – no surprise – rents are up all across the board.
At least in the places most people want to live…
- Greensboro, NC is up $1,060 a month versus last year.
- Durham, NC is up $1,270 a month.
- And Nashville, TN – up $1,780 a month.
But those are the biggest increases…
What are the highest rents in the nation for a 1-bedroom apartment?
- Boston – $2,600 a month
- San Francisco – $3,100 a month
- New York – $3,780 a month
You might ask yourself…
How can people afford these rents?
My answer is… I don’t know. But they do.
Why Miami is My Favorite
And, my favorite is…
Miami @ $2,500 a month.
Because I’m involved in a lot of multifamily real estate projects there.
And people are continuing to flock to the Miami area.
So, my occupancy levels are through the roof.
And with rents on the rise…
Higher valuations and higher cash flow should follow.
As I keep saying – inflation only hurts if you’re on the wrong side of it.
If you don’t own cash-flowing assets, it’s time to get them.
10X, every day.