As the economy improves and Americans become more willing to rent, a new trend is becoming evident: the rental market is thriving.
The number of rental listings in the United States has been on the rise for some time, reaching its highest level in years, according to the Federal Reserve Bank of New York.
The Fed said the number of listings increased by 6.7% in 2016, with a 6.9% increase in 2017.
Renting has become a more common choice than ever before, with some communities such as Nashville and San Francisco seeing more than one-third of rental properties for sale, according a survey from real estate agency Trulia.
The report found the median rent in Nashville was $1,846 in July 2017, up from $1.942 in June.
In San Francisco, it was $2,842 in July, up to $2.072 in June, according the report.
“We are seeing a very strong rental market in the city of San Francisco,” said San Francisco Mayor Ed Lee in an interview with The Associated Press.
“This is really something that needs to continue to grow.”
In New York City, where rents have increased 10.5% since 2009, the median home is now $1 million, according Realtor.com.
In Los Angeles, the number is up 6.5%, according to Realtors.com, and in Houston, it’s up 4.6%.
In the Dallas metro area, the average rent is $1 a month, and rents are at a 25-year high, according To The Star.
But not all are enjoying the housing boom.
In the Northeast, where rental vacancy rates are high, it is not uncommon for a home to sell within three years, and there is a large shortage of homes, according RealClearData.com Renters have a lot of options when it comes to finding a home.
The median price of a one-bedroom apartment in Manhattan was $3,878 in May, while a two-bedroom was $5,938, according The Wall Street Journal.
The average price of an apartment in Atlanta was $7,000 in May.
The national median price is $5.7 million.
A one-bed, two-bathroom apartment in New York is now available for rent in the Manhattan and the Brooklyn boroughs.
The Wall St. Journal reported in September that rents are rising in the Bay Area and across the country, with an increase in the median price for a one bedroom apartment in San Francisco.
A study released by real estate analytics company Zillow said that rents were higher in San Diego and San Jose, and that rent increases in those cities were more severe than in other cities.
The study showed that rents in San Jose jumped by more than 15% in the past year, to $1 per square foot, while rents in the San Diego area jumped by 12.5%.
Renters also can find better-quality apartments.
Zillows data showed that San Francisco’s average rent for a studio apartment was $4,038 in May 2017, down from $5:29 a year earlier.
Renters can also find better housing for lower income earners, such as those who are making under $50,000.
The Zillower report said that the median income for renters in the area was $52,834 in May 2018, down 1.8% from the year before.
In 2017, the percentage of renters making under 50,000 dollars was 22.1%, while the percentage making under 25,000 had increased to 28.1%.
The report also found that the rental vacancy rate for renters was 5.1% in June 2018, up slightly from 5.3% in May and 5.4% in April.
“The number of rentals has increased significantly since 2009,” the report said.
“New York City’s median income is $55,821, but renters in New Jersey make less than $20,000, while renters in California make $52.1 million.
The Bay Area, meanwhile, has seen the median household income rise by 11.4%, while renters are earning $69,000.”
But renters are not the only ones benefiting from the economic recovery.
The AP reported in July that the number to own a home has gone up to its highest point in five years.
A new report from the Urban Institute says the number that own a house is on track to reach a record high of 12.8 million units in 2019.
That would make the U.K. the second-largest country with an estimated total of 12 million housing units, behind Germany, which has 12.3 million units, the report found.
According to the report, there were about 3.2 million people in the U