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Inland rents stay on decline -

High unemployment and overall weakness in the economy continued to make rental housing a buyer's market in the final quarter of 2009, as the average Inland apartment rent dropped 6.7 percent from a year earlier.

Results of a December survey of 37 U.S. markets, being released today by Novato-based research firm RealFacts, found all but two -- Oklahoma City and Baltimore -- posted annual price declines. Most markets also reported declining occupancy rates.

RealFacts reported the rent price decline has now held steady for the past five quarters. Company owner Sarah Bridge said Wednesday that the Inland market is among those hit hardest by rising unemployment over the past year.

Tenants are having to move out because they've lost their jobs or encountered problems paying their bills. That's left apartment managers scrambling to lure dependable, employed tenants with move-in cost breaks, rent discounts for long-term leases and other incentives   Read Full Article...