Apartment rents across the US increased by 2.1% from July to August—a slight cool-down from 2.5% the month before—but still continuing a trajectory of rent growth that began with a flash at the beginning of the year.
According to a new report from Apartment List, national median rent growth has increased by 13.8% since January, a staggering increase when compared to typical pre-pandemic growth, which averaged around 3.6% from 2017 to 2019.
"With rents rising virtually everywhere, only a few cities remain cheaper than they were pre-pandemic," the report notes. "And even there, rents are rebounding quickly."
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