A recent article by Business Week talked about how the economic crises has opened up opportunites for tenants looking to negotiate their rent.

“The economic crisis has opened up opportunities for apartment tenants. The inventory of vacant apartments is expanding, and rents are dropping quickly in major metros across the country.”

They worked with AxioMetrics to view the top 25 metro areas where rent declines accelerated for most of the end of 2008. The top 10 cities with the highest rental rate decline are below:

Salt Lake City

Rank: 1

Rent drop: -5.7%

Q4 2008 rent change: -2.3%

Q4 2007 rent change: 3.3%

Effective rent: $810.30

Nassau-Suffolk (Long Island, N.Y.)

Rank: 2

Rent drop: -4.7%

Q4 2008 rent change: -3.2%

Q4 2007 rent change: 1.5%

Effective rent: $1,786.60

Raleigh-Cary, N.C.

Rank: 3

Rent drop: -4.0%

Q4 2008 rent change: -4.4%

Q4 2007 rent change: -0.4%

Effective rent: $752.70

New York-Wayne-White Plains, N.Y./N.J.

Rank: 4

Rent drop: -3.7%

Q4 2008 rent change: -3.2%

Q4 2007 rent change: 0.5%

Effective rent: $2,672.20

Seattle-Bellevue-Everett, Wash.

Rank: 5

Rent drop: -3.5%

Q4 2008 rent change: -3.8%

Q4 2007 rent change: -0.3%

Effective rent: $1,161.60

Portland-Vancouver-Beaverton, Ore./Wash.

Rank: 6

Rent drop: -3.2%

Q4 2008 rent change: -2.8%

Q4 2007 rent change: 0.4%

Effective rent: $850.40

San Jose-Sunnyvale-Santa Clara, Calif.

Rank: 7

Rent drop: -3.0%

Q4 2008 rent change: -3.0%

Q4 2007 rent change: 0.0%

Effective rent: $1,788

Charlotte-Gastonia-Concord, N.C.

Rank: 8

Rent drop: -2.9%

Q4 2008 rent change: -3.8%

Q4 2007 rent change: -0.9%

Effective rent: $736.40

Oakland-Fremont-Hayward, Calif.

Rank: 9

Rent drop: -2.9%

Q4 2008 rent change: -2.1%

Q4 2007 rent change: 0.8%

Effective rent: $1,515.40

Boston-Cambridge-Quincy, Mass.

Rank: 10

Rent drop: -2.8%

Q4 2008 rent change: -2.4%

Q4 2007 rent change: 0.5%

Effective rent: $1,634.20