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National Average Rent Rises by 3.0 Percent

Summary:
The national average rent price is ,436. The pace of rent increases is the lowest in nearly a year. The Rent Cafe reports the Average Rent Reaches ,436 in April. Key Points The national average rent reached ,436 in April 2019, up by 3% () year over year, and by 0.3% () month over month, the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay 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 ,436 national average, while 36% have average rents above. Average rent was just shy of 0/month in the nation’s most affordable rental market – Wichita, KS, while rents in Manhattan, NY hit ,130. 20 Largest Metro Areas BLS Shelter

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The national average rent price is $1,436. The pace of rent increases is the lowest in nearly a year.

The Rent Cafe reports the Average Rent Reaches $1,436 in April.

Key Points

  • 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

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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