Rent Inflation: National Average RENT Rose 10.3% YoY (Fed’s Got A Line On YOU!)

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by confoundedinterest17

Not only after home prices screaming at near 20% YoY growth, but apartment rents are surging as well.

(Bloomberg) — Apartment rents were up in August from a year earlier in all the top 30 U.S. metro areas, the first time that’s happened since the start of the pandemic, according to a new report by Yardi.

The national average rent in multi-family buildings rose 10.3% from a year earlier to $1,539 — the first double-digit rise in the dataset’s history — after a $25 increase in August, the real-estate firm said. Over the past 10 years, the average pace of growth has been 2%.

Zillow’s rent index of all homes is growing at 9.25% YoY.

Fed Chair Jerome “Inflation is Transitory” Powell.

The Fed has a line on you! Or at least a bullseye on the back of renters.

Is it safe …. for renters?

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