U.S. apartment rental rates jumped 6.5% in May 2015 – breaking the previous high for this cycle set just one month earlier. Momentum was seen in rents for both new residents and for renewing renters, up 8.4% on new leases and 5.1% on renewals.
The May numbers mark three straight months of better-than-expected rent growth to start 2015’s peak leasing season. The results have been especially impressive given widespread industry expectations of slowed rent growth in 2015 due to increased new supply and affordability barriers, among other factors.
Read more...U.S. Apartment Rents Surge Again in May – Topping April’s Record | Property Management Insider
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