"[A] large and growing pool of renters is spurring investors to purchase distressed inventory in order to convert it to rental inventory," Between January 2011 and January 2012, median rents increased by 3 percent.
Median rent increased from $1,182 in January 2011 to $1,218 in January 2012. Rents are up in 69.2 percent of the metropolitan areas tracked by Zillow, which bases its numbers on rent estimates from 84.9 million properties.
Why rents are rising as home values fall
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