Rents are on the move again.The annual Manteca Bulletin survey of apartment rents in Manteca shows most complexes have increased the monthly rental of units $20 to $35 a month.Unlike housing prices that peaked in 2006 and plummeted almost 60 percent, apartment rents reached a plateau in 2009. They then either held steady for two years or retreated by as much as 10 percent. Based on rent movements in 2011, monthly rents will return to the level they peaked at in 2009 by late 2013.
Rents on rise after dropping just 10% while home prices are flat after 60% fall