Strengthening job growth data from Q4 2023, shifts in GDP forecasts and retail sales, and the imminent action of the Federal Reserve has RealPage updating its effective rent growth forecasts for major markets, including 12% of the top 50 to rise by 3% or higher this year.

Most major markets are forecasted to experience growth between 2% and 2.9% and 38% of markets are predicted to see rent growth from 1% to 1.9%, its analyst Arben Skivjani writes.

Those forecast to grow by 3% or higher were Anaheim, Chicago, Columbus, Detroit, Indianapolis, and San Francisco.

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