Apartment Rents Move Beyond Pre-Pandemic Levels

Rents grew 9.2% year-over-year in July.

By Les Shaver | August 20, 2021 at 07:35 AM

Rents grew 9.2% year-over-year in July, pushing beyond pre-pandemic levels, according to the July 2021 Zillow Real Estate Market Report.

The monthly increase in the Zillow Observed Rent Index (ZORI) was the fastest observed by Zillow, which has been tracking data since 2015. In addition, Zillow estimates that the US ZORI in July was 2.9% ($52) higher than where it would have been if the last roughly 18 months had been more ‘normal.’

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