Rents going up in your area?

[Mark Ferguson]

I have a property that we are almost finished rehabbing and I was just checking Craigslist for comparable properties. It looks like similar properties are going for $1200 to $1300 a month where last year I would estimate $1100 maybe $1150.

Are you all seeing big increases as well?

[Chris Martin]

You can also use HUD's Fair Market Rent Documentation system to investigate rents by county or MSA. They also provide their methodology and algorithms in their documentation. For Efficiency, One-Bedroom, Two-Bedroom, Three-Bedroom, and Four-Bedroom in my area here's the breakdown:

Final FY 2013 FMR $634 $741 $878 $1,137 $1,412
Final FY 2012 FMR $681 $763 $849 $1,067 $1,105
Final FY 2011 FMR $695 $779 $867 $1,090 $1,129

I'd call us overall flat. Decreasing for small units, ... increasing otherwise.