National Average Rent Rises By 3.0 Percent

The national average rent price is $1,436. The pace of rent increases is the lowest in nearly a year.

The Rent Cafe reports the Average Rent Reaches $1,436 in April.

Key Points

  • The national average rent reached $1,436 in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay $42 more on average per month following relatively flat m-o-m rent increases during the off-season.
  • Of the 253 cities included, 64% have average rents below the $1,436 national average, while 36% have average rents above.
  • Average rent was just shy of $650/month in the nation’s most affordable rental market – Wichita, KS, while rents in Manhattan, NY hit $4,130.

20 Largest Metro Areas

 

BLS Shelter Components

 

BLS Shelter Components Year-Over-Year

 

Curiously, the BLS is reporting higher prices than the Rent Cafe.

Do you smell a BLS recount coming?

Disclaimer: The content on Mish's Global Economic Trend Analysis site is provided as general information only and should not be taken as investment advice. All site content, including ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.