Apartments are tougher to find and rents are rising, according to a report from QuoteWizard,a LendingTree company.
That scarcity has led to a 12.3% increase in rental rates,
Delaware ranked third among the 50 states in the change in the number of available apartments.
The number of available apartments in Delaware has dropped by 54.5% percent over the last two years with a vacancy rate of 3%.
A complete breakdown of rental changes for all 50 states and 75 of the nation’s largest cities is available at the link below.
QuoteWizard reported that people have moved out of large cities over the last two years.
“The change since 2019 is staggering. We found that the number of available apartments has gone up by as much as 300% in cities like Boston and down by as much as 60% in states like Nevada, “ said Nick VinZant, senior research analyst and insurance expert with QuoteWizard.
QuoteWizard discovered America’s shifting rental patterns by tracking the rental vacancy rate in each state since 2019.
QuoteWizard is an insurance comparison marketplace for consumers.