According to the latest report put out by RealPage MPF Research Division, effective rents for new leases in the 100 largest US apartment markets has increased by 1.9% in the second quarter. Quarterly apartment rent growth has reached a 14-year high.
For Q2, the annual effective rent growth pace came in at 3.5%; an upward trend from 3.2% in the first quarter and 2.9% in the fourth quarter of 2013. According to the report, monthly rents now average $1,153, across the nation.
Read more...Quarterly Rent Growth Hits 14-Year High - Daily News Article - GlobeSt.com
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