Rents

The National Industrial Conference Board has been conducting a nationwide study of rents, covering 179 localities in this country. According to the Board's statement, the peak for rents the country over was reached in July, 1924, when they averaged 86% higher than in 1914. Since that time a general decline has occurred, until in July, 1925, they stood at 79% higher than pre-War rates.

Among the leading 12 U. S. cities, Boston alone showed a slight increase. No change was apparent in Baltimore, Cleveland, Detroit, Philadelphia, Pittsburgh and St. Louis during the past year. But in Buffalo, Chicago, Los Angeles, New York and San Francisco, the trend toward lower rents was unmistakable.

Los Angeles has the distinction of having seen the greatest advances in rents since 1914; present rates there are now 131% to 140% above those eleven years ago. Indeed in 1924 Los Angeles landlords obtained rents averaging 161% to 170% higher than in 1914. Apart from Los Angeles, rents in Buffalo, Chicago, Detroit, Philadelphia and Pittsburgh are still 100% above 1914 rates.

During the past year rents have proved stable in the East, and to a slightly lesser extent in the Middle West. In the South the trend was downward, except in the "boom" state of Florida. In Tampa, for instance, rents have since last March climbed between 11% and 20%.