The cost of rental housing has gone up the last six months although income for owners of rental property would seem to have gone down slightly according to data compiled by the U-S Bureau of Labor Statistics. <Listen to the story>
The Bureau of Labor Statistics which measures price changes in the price of goods and services and reports the data in the form of the consumer price index or C-P-I says the cost of rental housing for a primary residence by about 1.65 percent over the span of six months during the year 2013.
The C-P-I however shows that the equivalent take of income received by owners of rental property went down by 1.33 percent. This could mean that the value of homes may be decreasing.
MSU graduating student Katelyn Suski, says she thinks the increase in these numbers over the span of six months has a lot to do with the need for homes in the Lansing area over the span of the fall and winter months.
“I always find that I am able to find a readily available house that is cheaper and feasible than in the summer. Theres a really great article on buying income properties,” said graduating senior, Katelyn Suski.
Suski says although she will graduate this May, she has had to move frequently over the last two years, living in different neighborhoods.
Suski was surprised to find out that the price in utilities at the rental houses increased by about 1.52 percent within the last six months.