Del Val Blog

Property Management Blog

National Rental Rates up 11.5% - Rental Rate Increases are at a all time high for the last year!

National Rental Rates up 11.5% - Rental Rate Increases are at a all time high for the last year!
  • Rents are up 11.5% nationally for the last year
  • This is the first month on record where rent growth has reached double digits
  • Monthly rent growth is now 1.6% per month
  • Rent growth now outpaces home price growth of 8.6%
  • The median rent was $1,633 nationally
  • This translates to an additional $169 per month for renters. Compared to August 2019, the median rent has is up by $197 or 13.7%
  • Philadelphia rents are up 2.3% over the last year