As recently reported in the New Hampshire Union Leader (Monday, July 19, 2010) by Doug Ireland with The Eagle-Tribune, a recent state report shows rental costs rising, despite the overall economic climate. The report was issued by the New Hampshire Housing Finance Authority and concluded, that despite the fact that home prices are still adjusting downward, rents are still increasing.

Over the past year the median price for a typical 2-bedroom apartment, which includes utilities, rose about 2% to $1,056 ($1,205 in Rockingham County). This trend of rising rent prices is making it hard for some residents to pay their rent. The median income in Rockingham County is already lower than what is estimated to be needed to keep up with the rent payments. It is the same case statewide. There are approximately 31,315 rental units in the state.

At the same time, there are more and more rental units coming on the market as sellers, particularly of upper end properties over $350,000, give up trying to sell and decide to rent instead. There are also more potential renters moving into the market from foreclosure loss of home as well.

For those who can get qualified to buy a home, this is still the best time in years to do so, especially considering the current rates and inventory.