An article on Realtor.org ranks the largest metros in the nation that have undergone the most extreme drops in rental rates in Q1 2009. San Francisco tops the list, with a 2.8% decline over the first quarter from Q4 2008. Here is the remainder of the list:
- San Francisco, CA: -2.8 percent
- New York, NY: -2.6 percent
- San Jose, CA: -2.5 percent
- Long Island, NY: -2.3 percent
- Charlotte: NC: -1.3 percent
- Chicago, IL: -1.2 percent
- San Antonio, TX: -0.9 percent
- Cleveland, OH: -0.9 percent
For a separate but related article referencing the metros with the largest rent declines in Q4 2008, click HERE. Salt Lake City tops that list, with a 5.7% decline from the previous quarter.
Renters: Dust off those leases. It's time to negotiate!
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