Instant Insights / Multifamily's Strong Rent Growth

Since almost the start of the year, the apartment asset class has been delivering eye-popping rent growth. Read about it here.

Analysis

Apartment Rents Reach New High in June

Forty-four of the 50 largest metros broke new records.

By Les Shaver | July 16, 2021 at 07:30 AM

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The US median rent price rose 8.1% year-over-year and 3.2% month-over-month to a new high of $1,575 in June, according to the Realtor.com Monthly Rental Report.

Forty-four of the 50 largest metros broke new records led by Riverside, Memphis, Tampa and Phoenix, which posted gains above 20% year-over-year. Riverside rents grew 24.3% from last year and 4.6% from May.

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