Since many people have lost their homes through a short sale or foreclosure they have no choice to rent now because their credit history is shot. All these former home owners looking for rentals is putting pressure on apartment rental prices and driving the vacancy rate to all time lows.
In most cities right now the rental market is extremly competitive, rental prices are rising and your serach is getting harder. The way home prices are going down and rental prices are going up the will come a time that it will be more cost affective to buy then rent. Though that might take several years to play out.
Putting a larger security deposit down and possibly the last two months rent instead of the last month of rent is becoming the norm. Having thousands of dollars tied up in some low interest rate bearing account isn’t that great for you either.
What choice to you have? None really if you’re renting.
deposit account, home buying, interest rates, rate, rental prices, Rental vacancies, security deposit