Apartment rents are Now 1.2% Cheaper Than a Year Ago
Market Trends
Remember those escalating apartment rent numbers, some skyrocketing 40% in very popular cities? They’re now in your rear-view mirror, as rent growth has dropped.
The nationwide median rent fell 0.5% to $1,364, according to Apartment List’s National Rent report. Annual rent growth is now at -1.2%, which translates to apartments being 1.2% less expensive now than they were a year ago.
In recent years, the growth sometimes neared 18%, though it also climbed higher in selective markets.
Full article here.
