Apartment rents are growing more slowly than they did in 2021, but at a pace faster than the years immediately preceding the pandemic, according to the latest national rent report by Apartment List. 

Year-over-year rent growth currently stands at a "staggering" 15.3 percent, according to the report, but is down from the 17.8 percent peak it showed at the start of the year.

In May, rents rose 1.2 percentthe largest monthly increase of the yearand through May they are up 3.9 percent. That lags last summer's scorching pace, but it's ahead of the pre-pandemic norm. Five months into 2021, rents rose 6.1 percent.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.