It is becoming almost unanimous among apartment rent forecasters that what has been a strong rent growth run across most of the country in the past two years is starting to moderate. To name one example, CoStar just predicted that demand will cool over the next six months, noting that rent growth rose 9.2% in Q2, down from 11.4% in the first quarter.
Yet rent growth is still far higher than it was pre-pandemic, with new benchmarks continuing to be set. The latest example comes from Yardi Matrix, which reports that average US rents rose above $1,700 for the first time in June after adding another $19 since May.
Rents Up 10% or More in 25 of 30 Markets
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