May 2021’s rent increase of 0.88% compared to April was the largest month-to-month average jump since Yardi Matrix started collecting rent data.

That all-time high comes after April posted the third-highest increase recorded. While the next couple of months should continue to post strong numbers, Yardi expects seasonal pressures to weigh on growth by the end of the year. Still, many metros could see new all-time rent growth highs in 2021.

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