Rents Are Rising 4 Times Faster Than 2020

 

 

Rents Are Rising 4 Times Faster Than 2020

 

Rents Are Rising 4 Times Faster Than They Did in 2020 Imagine paying $1500/month for rent in 2021 and getting a renewal letter for $2079. While the 38.6% seen in Miami was by far the highest annual change, other metros were nonetheless well above 2020's levels. Specifically, December's year-over-year change was 12.0% compared to January's 12.6%. One notable shift over the past several months has been the ability of the "attached" home sector (condos/townhomes) to match the pace of the detached single family residence. Rent price appreciation has been broad-based as well, with both low and mid tier homes at 12% and 12.2% respectively.