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After gradual cooling over the past few years, U.S. apartment rents have erased the pandemic detour, and with construction leveling off, annual rent growth could return to modest, steady increases in 2027, according to a recent report.
However, regional differences could remain significant, real estate professionals and analysts say.
A Rollercoaster Ride
From 2017 to 2019, the national median rent rose at an average annual rate of 2.5 percent, roughly in line with overall inflation at 2.1 percent, according to a mid-September Apartment List report.
However, rents began to soar in 2021, driven by a sharp increase in housing demand.
At its peak in August 2022, the national median rent was 14 percent higher than it would have been if pre-pandemic rent trends had continued….
However, regional differences could remain significant, real estate professionals and analysts say.
A Rollercoaster Ride
From 2017 to 2019, the national median rent rose at an average annual rate of 2.5 percent, roughly in line with overall inflation at 2.1 percent, according to a mid-September Apartment List report.
However, rents began to soar in 2021, driven by a sharp increase in housing demand.
At its peak in August 2022, the national median rent was 14 percent higher than it would have been if pre-pandemic rent trends had continued….
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