Rents Are Moving Higher, But at a Slower Pace

September 17, 2019

Increased demand and slow-moving construction are making national rents higher, according to new data from the RentCafe and Yardi Matrix. The national average rent in August rose 3.3% year over year to $1,472.

However, rents are rising at a slower pace. The August data marks the slowest rise since February, the report notes. Ninety-seven percent of the cities analyzed saw a seasonal slowdown in August with rents either dropping or only rising slightly by 1%.

Overall, Wichita, Kan., remains the most affordable rental market of all cities surveyed, with an average rent of $565. On the other hand, Manhattan is the priciest in the nation, with average rents at $4,272, followed by San Francisco at $3,706.

View the charts below for a breakdown of the highest and lowest rental prices for large, mid-sized, and small cities.

RentCafe rent prices. Visit source link at the end of this article for more information.

© RentCafe

RentCafe midsize cities. Visit source link at the end of this article for more information.

© RentCafe

RentCafe small cities. Visit source link at the end of this article for more information.

© RentCafe