Peak apartment rent growth – as well as the historically high-performance levels seen in 2021 – are by all accounts in the rearview mirror, according to data released this week by RealPage.
Effective asking rents increased by 0.8% from June to July, which represents about one-third of how they performed a year earlier. That moderation was as expected, RealPage said.
The spike in 2022 is nothing to sneeze at, though. It makes it the best performing July in the past decade, which shows just how impressive 2021 was for apartment operators, the company said.
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