Affordable housing rent growth has seen two strong quarters back-to-back, says Moody's Analytics REIS.

The growth for the third quarter finished at 0.7%. This increase, along with the momentum of the second quarter that posted the strongest rent growth in two years, has increased the Moody's growth projection for 2021 from 2.2% to 2.5%.

Year-end average rent is now expected to be $999.

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