Rents Rebounding Around the U.S., Report Says

The May Apartment List National Rent Report shows rent rebounding at accelerating rates in markets across the country.

"Our national index increased by 1.9 percent over the past month, the largest monthly increase ever in our estimates, going back to the beginning of 2017," according to an article by Chris Salviati, Igor Popov, and Rob Warnock that announces and provides insight into the findings of the new report.

The story differs by location, however. "Although rents in San Francisco are still down 19.5 percent year-over-year, the city has seen prices increase by 7 percent over just the past two months. 9 of the 10 cities with the sharpest year-over-year declines have now had three consecutive months of rising rents," according to the article.

"At the other end of the spectrum, many of the mid-sized markets that have seen rents grow rapidly through the pandemic are showing that there’s still steam left in the current boom -- Boise rents jumped by another 5.2 percent this month, the biggest increase among the nation’s 100 largest cities."

Nationally, the Apartment List's national rent index jumped 1.9 percent month-over-month—" the largest single month increase ever recorded in our estimates, which began January 2017."

Climbing rents means there is very little good news to be found in the housing market for renters or potential homebuyers—only large, institutional investors seem to have an advantage.