US apartment rent growth is back in a big way, now that the country's reopening local economies are fueling household creation and stimulating robust demand for all types of housing.
Effective asking rents for US apartments climbed 1.3% in April, rising at the fastest pace seen during a single month for the past decade or so and likely at the fastest pace ever. (RealPage's long-term performance history for rents measured change by quarter, rather than by individual month.)
This upturn in rent growth arrives right at the beginning of prime leasing season. The vast majority of household moves tend to occur in the time frame from April through September.
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