Rents were falling, then they were flatlining, and now they’re reheating. The typical rent last month was $2,054, an increase of 3.5% from a year earlier, which happens to be the fastest annual pace since July last year, according to Zillow.
“The months long slowdown in the rental market appears to be leveling off as the busy summer season kicks off,” Zillow said in its monthly rental report published this week. “Rents are growing at their fastest annual pace in nearly a year—though the margins are slim—and concessions offered by landlords and property managers have flattened after reaching a three-year high this spring.”
