MULTIFAMILY EXECUTIVE (January 4 2018) – Typical monthly apartment rent is now $1,330 in the U.S.
Rents continued to grow in 2017 as the market kept its stable footing heading into 2018, according to RealPage. In its latest report, the real estate technology and analytics firm said rents climbed at a moderate pace of 2.5% in 2017, and the typical monthly apartment rent is now $1,330 in the U.S.
“While the apartment rent-growth pace has slowed from the performance seen a couple of years ago, it’s the longevity of the current cycle that’s so impressive,” says Greg Willett, RealPage’s chief economist. “Rents have climbed substantially for eight consecutive years.”
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