National Average Rent Rises by 3.0 Percent

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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

Comments (13)
No. 1-10
Greggg
Greggg

Snow_Dog
Snow_Dog

LMAO! The debt is too damn high!

RonJ
RonJ

Los Angeles: $2,471

In 1977, a small one bedroom in Glendale cost me $400 a month. In the last election, L.A. had a rent control issue on the ballot. Ads promoting it contained the phrase, "...because the rent's too damn high."

I read the other day that the state government is looking at ending zoning laws that protect single family zoning, so that more apartment buildings can be stuffed into a particular area. New mid rise apartment buildings are filling up the downtown area of Glendale, turning streets into mini canyons. Some Burbank residents are expressing concerns of apartment construction plans creating over crowding issues.

Too many people, not enough housing. The democrat controlled state government, however, is encouraging illegal aliens to come across the border, which isn't helping.

KidHorn
KidHorn

I'm surprised DC is #3 on the list. I guess it's because of our transient population. Many want to rent because they don't plan on staying long.

Stuki
Stuki

Gotta keep those sharecroppers picking.... How else could deadweight nothings live large off of "asset appreciation," without producing a single worth vile anything, in their entire, worthless little life?

ReadyKilowatt
ReadyKilowatt

Denver still booming. Every time I go there I'm amazed to see more buildings in places that aren't all that desirable, like right up against the freeway. Or down in the swampy area next to the Platte river.

Or in the Mile High Stadium parking lot...

bradw2k
bradw2k

Sounds like "inflation" is pretty much 3%. So what's the Fed worried about?

lol
lol

Break $1500 avg by years end ,at an annual inflation/shrinkflation rate (real number)of 15-16%,could see avg rent soar to wait for it...…...2k a month by 2021!

stillCJ
stillCJ

Editor

So average rent is about even with inflation. Yawn.

Premitive1
Premitive1

How did they miss Miami with average monthly rent of over $1700