Sep 30, 2013

Housing Trends

Rental Trends 2Q2013

The average national rent for U.S. multi-family markets covered by RealFacts continued to rise in the second quarter of 2013, averaging $1,075 per month.  This all-time high average rent represents an increase of 2.3% from first quarter 2013 levels and a 4.5% rise from a year ago.  In addition, the second quarter rent level represents the sixth straight quarter of average monthly rents above $1,000.  With the expected continued growth in employment, combined with rising home prices and mortgage interest rates, demand for rental units should remain strong this year.  Rents are expected to continue increasing for the nation as a whole although at a more moderate pace compared to the past quarter.

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