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June brings a 2.9% upswing

June brings a 2.9% upswing of the national average rent

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Closure at North Machias Road July 6 - 19

Lake Stevens drivers will be detoured around closure at North Machias Road July 6 - 19

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Published:2018-07-05 National Print Snohomish Times
June brings a 2.9% upswing

We just released our monthly rent report with data compiled from actual rents charged in the 250 largest US cities. June brings a 2.9% upswing of the national average rent, crossing the $1,400 threshold. The national average rent reached the all-time high of $1,405. This means that renters pay on average $40 more per month than they did a year ago.

Starting this month, you can check out the rents broken down by unit type in the interactive table at the end of the report. Here are the main highlights for large, mid-size and small markets:
• Renter Mega-Hubs: None of the rental mega-markets of the country escaped steep rent increases this month. Clocking in at $1,387, rents in Orlando saw a 8.4% Y-o-Y increase, the most significant growth in this category. After a period of sluggish growth, Manhattan rents inched up by 1.5%, marking the highest increase in 12 months.
• Large cities: Las Vegas (7%) and Phoenix (6.4%) rents continued fast ascent, followed by San Diego (5.4%). Baltimore (0.6%) prices remained pretty much the same, while Oklahoma City and San Antonio exhibited a moderate 2.1% Y-o-Y increase.
• Mid-size cities: Steadily catching up with South Florida prices, Tampa sees the highest rent increase over the year - 6.2%. Sacramento and Mesa follow in a 5.9% tie, while prices in Wichita and Tulsa remained virtually flat.
• Small cities: June’s shockers were Midland (38.8%) and Odessa (36.6%), but Lancaster (10.2%), Reno (9.9%), and Peoria (9.6%) saw remarkable rent growth as well. On the flip side, compared to last year, rents in Brownsville and Norman decreased by 1.9% and 1.8% respectively.

Adrian Rosenberg
Communications Specialist | RENTCafé
adrian.rentcafe@yardi.com | www.rentcafe.com

 


June brings a 2.9% upswing June brings a 2.9% upswing
2018-07-05
June brings a 2.9% upswing of the national average rent
Closure at North Machias Road July 6 - 19 Closure at North Machias Road July 6 - 19
2018-07-03
Lake Stevens drivers will be detoured around closure at North Machias Road July 6 - 19
Deadlines fast approaching Deadlines fast approaching
2018-07-01
Monday, July 9 is the last day before the August 7 Primary to register by mail or online or to update an existing voter registration.
Everett detectives need your help Everett detectives need your help
2018-06-12
Everett detectives look for a person of interest in recent homicide
Seattle Jobs Tax Seattle Jobs Tax
2018-06-11
Seattle jobs tax gets well-deserved pink slip
Farwest Motel shooting Farwest Motel shooting
2018-05-24
Everett detectives seeks public help to locate suspects in recent Farwest Motel shooting.
Needle Clean-Up Kit and Disposal Program Needle Clean-Up Kit and Disposal Program
2018-04-25
Pick-up and drop-off locations added as part of ongoing response to opioid epidemic
Fire District 7 and Camano Island Fire mourn loss Fire District 7 and Camano Island Fire mourn loss
2018-04-24
Fire District 7 and Camano Island Fire mourn the loss of one of their own
Motorcycle collision hospitalizes one Motorcycle collision hospitalizes one
2018-04-23
Detectives with the Traffic Safety Unit are investigating a motorcycle collision that injured an Everett woman over the weekend.
Early Morning House Fire Early Morning House Fire
2018-04-23
Neighbors called in an early morning house fire at 2:36am this morning at 1210 35th Street.

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