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Apartment Rents Could Grow by Up to 4% in Some Markets

Varying supply and demand trends set some markets up for rent growth, while others remain flat.

By Kristen Smithberg | January 22, 2025 at 07:07 AM

Apartment rent growth is expected to increase over the coming year, but at a market level, performance is likely to vary, according to a RealPage forecast.

Markets that are poised to outpace the national rent growth average in 2025 include those with minimal or modest supply pressure coupled with stable demand. This category of slow-and-steady markets is largely concentrated in the Midwest and Northeast/Mid-Atlantic regions and includes Chicago, Cincinnati, Indianapolis, Kansas City, Pittsburgh, Richmond and Virginia Beach, said the report. Markets within this tranche will likely see rent growth near historically normal levels of between 3% and 4%.

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