U.S. Rents Rise Most On Record

After taking a hit in 2020, U.S. rents are rising most on record according to both housing data providers and the largest institutional holders of single-family rental properties.

Housing Data Providers Warn That U.S. Rents Rise Most On Record

Since a few months, one of the key developments in the U.S. housing market has been the rebound of rent prices. Several indexes pointed to a sharp increase. According to Apartment List, the median national rent climbed 11.4% in the first seven months of 2021. On a YoY basis, the median national rent rose 10.3% in July (the largest increase since the firm tracked data). Even if some part of the increase reflects a bounce-back in prices that fell earlier in the pandemic, the real-estate firm highlights that rents are now far higher than if they had stayed on their pre-Covid trend.

The same pattern has been observed with other indexes. As a matter of fact, “Typical U.S. rents grew 9.2% year-over-year in July, according to the Zillow Observed Rent Index (ZORI) — the fastest recorded by Zillow records in data that reaches back through 2015 — to $1,843/month.

Meanwhile, according to industry consultant RealPage Inc., rents on newly signed leases soared 14.6% YoY in June, the most on record.

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Disclaimer: Mr. Christophe Barraud could not be held responsible for the investment decisions or possible capital losses of users. Mr. Christophe Barraud endeavors to provide the most accurate ...

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