Residential Rent Growth in U.S. Accelerates in 2019
According to Zillows June 2019 Zillow Real Estate Market Report, U.S. residential rent values continued their growth streak, accelerating for the ninth-straight month in 2019. The median U.S. rent rose 3% on an annual basis to $1,483, with Las Vegas (up 10%), Phoenix (up 8.4%) and Orlando (up 7.4%) seeing the largest year-over-year growth. Rents are up YoY in 49 of the nations top 50 markets with Milwaukee as the only exception. Nationally, rent growth has not been this strong since 2016 when pressure in the rental market spurred record numbers of multi-family permits.