Rent growth in the nation's 50 largest housing markets saw its first uptick since the pandemic began in March.
Rents grew 1.1% year-over-year, according to the realtor.com Monthly Rental Report. Still, rental markets in pricey high-tech hubs like San Jose, San Francisco and Seattle continue to struggle.
The US median rent, which is calculated by averaging the median rent of the 50 largest metros, averaged $1,463 in March. Previously, rent growth had slowed from 2.2% in July 2020 to just 0.6% in February 2021.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
