RentCafe: Average Rent up 3% Year-Over-year
RENTCafe is reporting that the average apartment rent for January came in at $ 1,463, up 3% from one year ago. RENTcafe gathers their data from the Yardi Matrix, the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, the U.S. Department of Housing and Urban Development and other public (government and third-party) databases.
“Rents are likely to maintain an upward streak throughout 2020, as the number of renters continues to rise in the U.S. The demand for apartments is high, including among those renting by choice.”