Apartment rents are growing more slowly than they did in 2021, but at a pace faster than the years immediately preceding the pandemic, according to the latest national rent report by Apartment List.
Year-over-year rent growth currently stands at a "staggering" 15.3 percent, according to the report, but is down from the 17.8 percent peak it showed at the start of the year.
In May, rents rose 1.2 percent—the largest monthly increase of the year—and through May they are up 3.9 percent. That lags last summer's scorching pace, but it's ahead of the pre-pandemic norm. Five months into 2021, rents rose 6.1 percent.
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