Renters are paying significantly more than expected based on historical trends in individual markets.
The average monthly rental rate in the US was $1,979 in May—9.85 percent above what renters should be paying based on past market trends, according to Zillow's Observed Rental Index.
Significant rent increases remain the norm across Florida and beyond, and the Federal Reserve's recent interest rate hike is unlikely to improve the landscape for cash-strapped renters, according to researchers at Florida Atlantic University and two other schools.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
