Jul
24
Written by Ben Lane
We’ve known that the rent may be too high for quite a while now, but a new report shows that rent has never been this high before.
Newly released data from RentCafé and Yardi Matrix shows that nationwide rents just hit an all-time high in June, crossing the $1,400 threshold for the first time ever.
According to the apartment market report, the national average rent for apartments was $1,405 in June, an increase of 2.9% from the same time period last year and an increase of 0.9% from the month of May.
In terms of dollar amount, apartment renters now must fork over $40 more per month than they did one year ago.
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