The pandemic hit at the worst time possible for apartment owners. As spring leasing season was picking up in 2020, the word went into lockdown.
Apartment List's national index hovered around 4% below its projected level for the remainder of the year when that happened.
But things turned quicker than expected. After a strong 2021 performance, that gap has been eliminated. In May 2021, the national median rent price hit $1,189, just above the projected price of $1,185.
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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.
