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July 18, 2008

arrowWell, at least rents aren't soaring

Food prices are climbing, gas is expensive and incomes are flat. At least rents, for the most part, are staying relative stable in Fresno, according to one report.

The average rent in Fresno was $806, up less than 1% over a one-year period. Meanwhile, the average occupancy rates remained essentially unchanged, said RealFacts, which tracks such things.

Interestingly, a press release accompanying a rent chart noted that cities with the weakest housing markets and highest foreclosure rates also show little rent growth and, in some cases, declining occupancy rates. That kind of quashes claims that higher foreclosure rates would lead to increased demand for apartments.



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