National Average Rent Rises by 3.0 Percent
The Rent Cafe reports the Average Rent Reaches $1,436 in April.
- The national average rent reached $1,436 in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay $42 more on average per month following relatively flat m-o-m rent increases during the off-season.
- Of the 253 cities included, 64% have average rents below the $1,436 national average, while 36% have average rents above.
- Average rent was just shy of $650/month in the nation’s most affordable rental market – Wichita, KS, while rents in Manhattan, NY hit $4,130.
20 Largest Metro Areas
BLS Shelter Components
BLS Shelter Components Year-Over-Year
Curiously, the BLS is reporting higher prices than the Rent Cafe.
Do you smell a BLS recount coming?
Mike "Mish" Shedlock