SEATTLE—Rent appreciation will level off over the next 12 months, slowing to an annual rate of 1.1% by December 2016, according to the new Zillow Rent Forecast. The national Zillow Rent Index at the end of 2016 is projected to be $1,396—compared to $1,381 in December 2015.

Zillow is forecasting a decrease in the rate of rental appreciation amid a rental affordability crisis that has renters in some markets spending almost half of their income on rent. Some of the fastest growing metros had double-digit annual rental appreciation at the end of 2015.

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