End of Rental Season Brings Renters Temporary Relief, but Demand Keeps Fueling Increases in Big Employment Hubs
From RentCafe, October 2, 2018
- Rent growth came to a halt in September at national level – the $1,412 U.S.-wide average marks a 0.1 percent ($1) month over month decrease, however it’s up by 3 percent ($41) year over year, according to Yardi Matrix data.
- Of the nation’s biggest 252 cities 93 percent have registered Y-o-Y rent increases, 6 percent flatlined, and only 1 percent of cities have seen their rents decrease compared to September 2017.
- Rents have increased the most in Queens (NYC), Phoenix, and Las Vegas among the nation’s largest cities, while Baltimore, Detroit, and San Antonio rents have stayed closest to last September’s average.
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- Average Rent: $1,776
- Change Month over Month: -3.9%
- Change Year over Year: NULL