Expenses are rising on most everything for consumers – including renters – and they are not able to put as many dollars toward rent, according to a report last week from real estate brokerage Redfin.
The national median asking rent continued to rise in July – up 14% year over year to $2,032, the smallest annual increase since November.
On a month-over-month basis, the median asking rent climbed 0.6%, the slowest growth since February and down from a 2.1% increase a year earlier, Redfin said.
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.
