The Streak Continues: Rental Market Hits 6 Straight Months Of Double-Digit Growth

  • 📰 Forbes
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

New data shows national rents grew five times faster in 2021 than in 2020.

In December, the U.S. median rental price grew 19.3% year-over-year to $1,781, which was relatively flat from last month’s level .

The median studio rental price continued to accelerate in December, rising 18.6% over the same month in 2020 to a two-year high of $1,462. Common to big cities that saw an exodus of renters earlier in the pandemic, studio rents declined at the beginning of 2021. However, studio rents began to recover in the second half of the year as downtown offices and attractions began to reopen, and ended 2021 at an average annual growth rate of 6.1% . . The year’s fastest-growing rental markets were all outside of big tech cities, with the top 10 led by the relatively affordable Los Angeles alternative of Riverside, California.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines