The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1924-05-08
H. L. Hastings, Secretary
of Local Board, Makes
Public Findings.
RENTS ARE STABILIZING
Reports from 1O2 Cities in Diff
ferent Sections Show "A
Per Cent Stationary.

Rents of residential property In Re
nosha have increased Is per cent dur
ing the past year, and are still on the
up grade, it was announced today py
II, Lawrence Hastings, secretary OF
the local real estate board. This state
ment was made today coinc' dent with
the completion of the national sur
vey. Kenosha was one of the 102 CT
ties in the United States which were
surveyed by the national organization
Shortage of first mortgage money IS
assigned by Mr.. Hastings as the prln-
cipal reason for the increase. Money
with good security is difficult to get
even at 6 and per cent, it was stat
ed. AS soon as the money situation
loosens UP, as it is expected to DO
within the next few weeks, Kenosha
is due for a building boom which will
bring down rentals.
Rents charged for houses and apart
ments in "a per cent of the cities in
the United States have reached state
of equilibrium, according to a survey
Of the rent situation made by the Ma
tional Association of Real Estate
Boards, it was announced today by H.
Lawrence Hastings, secretary of the
local board. s.ss>s-4~s---~--y--
A downward trendis reported in sG
per cent of the cities, while an upward
climb is said to exist in only 10 per
cent.
The survey, is so far as is known
| the first attempt to investigate resi-
Dental rents of all types of property
throughout the country, Mr.. Hastings
stated. The reports upon which the
figures are based were made by 102
cities in different parts of the coun-
try. These reports were made by the
| local boards after a careful analysis
of the local situation by the real es-
tate boards in the various cities. The
survey covered three classes of struc-
lures: The best, the middle class
| and the cheapest.
Taxes Eat" 6 Weeks Rent.
Taxes, it has been found, absorb
! about IL per cent of the gross rent
/ paid in by tenants. This is equal to
approximately the gross rent paid in
| for a month and a half every year
This percentage of tax share in the
rent bill has been found to vary in
/ cities of different size. In some OF
the cities with a population of be
tween $4,000 and 100000 it has beer
found to run as high as 35 per cent
In cities under $4,000 it has beer
found to run lowest.
/ Notwithstanding the greatly increas
ed cost of construction, material anc
i labor, which is reflected in the rents
of modern high grade structures
shelter can still be had in any sizec
! city at rents that are strikingly low
In some places the rent is down to 81
heated room, per month. However
the average rent charged for single
rs 900 to 100000, has been found to be
about SIS per month, for the best
structures.
/ Middle class structures show that
it is about SO per room, per month
while in the least desirable location:
it runs about $4 on an average. II
cities of over 100000 the rents jump
to $25 room for first, class structures
SO in the second class, and then sinh
to SIS for the lowest classification.
Kitchenette-the Aristrocrat.
The kitchenette apartments are
found to be the aristrocrats of the
rent scale. In the most modern apart
ment houses. in desirable locations
they rent for an average of $50 pei
month per room in the largest cities
mi-detached and two-family types
of houses show a lowering of the rent
scale of about SO per room per month
in the first classification and re
duction of from SO to SIS in the lower
classes.