Apartment rents are increasing at the fastest rate seen in decades, with Zoom boomtown Boise posting the biggest increases in the second quarter.
Boise, a favorite destination for pandemic WFH-ers, showed the most aggressive annual rent growth, with pricing up 21.2%. The city logged unprecedented rent growth in 2020 as well.
Effective US asking rents are up 2% in June alone, an uptick that pushed year-over-year pricing increases up 6.3%, according to data from RealPage. That's the highest 12-month increase recorded since early 2001. And the average US monthly apartment rent rings in at $1,513, also a high watermark.
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