{"id":76639,"date":"2019-06-15T06:30:08","date_gmt":"2019-06-15T13:30:08","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=76639"},"modified":"2020-01-10T06:41:30","modified_gmt":"2020-01-10T14:41:30","slug":"slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/","title":{"rendered":"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442"},"content":{"rendered":"<h3><strong><em>Key takeaways:<\/em><\/strong><\/h3>\n<ul>\n<li><em>The U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up by 0.3% ($5) month over month, according to\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n<li><em>The average rents in 64% of the 260 cities included in this report are below the national average, while 36% are above.<\/em><\/li>\n<li><em>Average rent in Manhattan, NYC hit $4,200 in May, while average rent prices in Wichita, KS, the nation&#8217;s most affordable rental market, reached $647.<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/National-Average-Rent-May-2019-1.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"wp-image-71002 size-large\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/National-Average-Rent-May-2019-1.png\" alt=\"National apartment average rent May 2019\" width=\"100%\" \/><\/a><\/p>\n<h3>Apartment rents increase by 2.5% as the prime rental season kicks off<\/h3>\n<p>Average rent prices went up by 2.5% year-over-year in May and reached a <strong>$1,442 <\/strong>monthly\u00a0average. Nationally, rents maintain a strong month-over-month growth, but the annual increase is the slowest we&#8217;ve seen in 18 months. Residential rents are rising\u00a0steadily across cities, with the third month in a row sprouting a 0.3% month-over-month jump.\u00a0Compared to last May, renters pay $35 more on average, according\u00a0to the latest <a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a> data on apartment market trends.<\/p>\n<p>Apartment rents run the gamut across the country. Of the 260 largest cities analyzed in our report, 64% have average rents below, while 36% have average rents above <strong>$1,442<\/strong>. Averaging $647, rent in Wichita, KS\u00a0keeps at it as the most affordable in the U.S., followed by\u00a0Tulsa, OK with $691 and <strong>Toledo, OH<\/strong> with $715. High-cost markets like\u00a0<strong>Manhattan<\/strong> ($4,200) and <strong>San Francisco<\/strong> ($3,648) continue to display the highest average rents in the country.<\/p>\n<p><strong id=\"map\">Check out the interactive map below to find out more about average rent prices in small, mid-sized, and large U.S. cities<\/strong><\/p>\n<div class='tableauPlaceholder' id='viz1559901233372' style='position: relative'><noscript><a href='#'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ap&#47;ApartmentMarketReport-May2019&#47;RentCafeRentReport&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class='tableauViz'  style='display:none;'><param name='host_url' value='https%3A%2F%2Fpublic.tableau.com%2F' \/><param name='embed_code_version' value='3' \/><param name='site_root' value='' \/><param name='name' value='ApartmentMarketReport-May2019&#47;RentCafeRentReport' \/><param name='tabs' value='no' \/><param name='toolbar' value='yes' \/><param name='static_image' value='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ap&#47;ApartmentMarketReport-May2019&#47;RentCafeRentReport&#47;1.png' \/><param name='animate_transition' value='yes' \/><param name='display_static_image' value='yes' \/><param name='display_spinner' value='yes' \/><param name='display_overlay' value='yes' \/><param name='display_count' value='yes' \/><param name='filter' value='publish=yes' \/><\/object><\/div>\n<p>                <script type='text\/javascript'>                    var divElement = document.getElementById('viz1559901233372');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='800px';vizElement.style.height='654px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='800px';vizElement.style.height='654px';} else { vizElement.style.width='100%';vizElement.style.height='537px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<h3>Rents in 14 of the 20 largest U.S. renter hubs are below the\u00a0$1,442 national average<\/h3>\n<p>Most of the largest renter hubs analyzed are priced under the national average, while 6 of them are priced above $1,442. Renting in the most budget-friendly large renter hub,\u00a0Indianapolis, IN, is now $863 after a $1 m-o-m increase. The second-most affordable renter hub is Columbus, OH\u00a0($925), followed by <strong>San Antonio, TX<\/strong> ($1,029) and two of the most in-demand cities to rent in: <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\">Phoenix, AZ<\/a> ($1,057) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/las-vegas-nv\/\" target=\"_blank\" rel=\"noopener\"><strong>Las Vegas, NV<\/strong><\/a> ($1,066).<\/p>\n<p>Gateway cities like <strong>LA<\/strong> ($2,478), <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\">Washington, DC<\/a> ($2,149) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/seattle-wa\/\" target=\"_blank\" rel=\"noopener\"><strong>Seattle, WA<\/strong><\/a> ($2,087) follow Manhattan ($4,200) as the most expensive renter hubs in the United States. Under the $2,000 mark, but still above the national average, we have\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\">Chicago, IL<\/a> ($1,906) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\">Denver, CO<\/a> ($1,633) in the afterglow of the first quarter construction boom.<\/p>\n<p>Doug Ressler of Yardi Matrix believes job growth cannot be overlooked when discussing housing prices in large renter hubs. <strong>In the greater Seattle area \u2014 home to the headquarters of Microsoft and Amazon \u2014 the 21% job growth since 2011 has outpaced the 13% increase in housing construction. This has led to a 96% jump in housing prices over the past eight years<\/strong>, Ressler says. <strong>All in all, homes feel less affordable to buyers today than they did 10 years ago, causing those who have never owned a home to delay buying a single-family home or condo unit.<\/strong><\/p>\n<h3>May rents in the 20 largest renter mega-hubs:<\/h3>\n\n<table id=\"tablepress-338\" class=\"tablepress tablepress-id-338\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">City<\/th><th class=\"column-2\">Average Rent May 2019<\/th><th class=\"column-3\">Average Rent Previous Year<\/th><th class=\"column-4\">Net 1-Yr Change<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Manhattan (New York City), NY<\/td><td class=\"column-2\">$4,200 <\/td><td class=\"column-3\">$4,118 <\/td><td class=\"column-4\">$82<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\" target=\"_blank\">Los Angeles, CA<\/a><\/td><td class=\"column-2\">$2,478 <\/td><td class=\"column-3\">$2,365 <\/td><td class=\"column-4\">$113<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">$2,149 <\/td><td class=\"column-3\">$2,122 <\/td><td class=\"column-4\">$27<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">$2,087 <\/td><td class=\"column-3\">$2,041 <\/td><td class=\"column-4\">$46<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">$1,906 <\/td><td class=\"column-3\">$1,881 <\/td><td class=\"column-4\">$25<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">$1,633 <\/td><td class=\"column-3\">$1,589 <\/td><td class=\"column-4\">$44<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/atlanta-ga\/\" target=\"_blank\">Atlanta, GA<\/a><\/td><td class=\"column-2\">$1,435 <\/td><td class=\"column-3\">$1,389 <\/td><td class=\"column-4\">$46<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">$1,422 <\/td><td class=\"column-3\">$1,379 <\/td><td class=\"column-4\">$43<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\" target=\"_blank\">Austin, TX<\/a><\/td><td class=\"column-2\">$1,379 <\/td><td class=\"column-3\">$1,327 <\/td><td class=\"column-4\">$52<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\" target=\"_blank\">Tampa, FL<\/a><\/td><td class=\"column-2\">$1,313 <\/td><td class=\"column-3\">$1,273 <\/td><td class=\"column-4\">$40<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\" target=\"_blank\">Dallas, TX<\/a><\/td><td class=\"column-2\">$1,207 <\/td><td class=\"column-3\">$1,168 <\/td><td class=\"column-4\">$39<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\" target=\"_blank\">Charlotte, NC<\/a><\/td><td class=\"column-2\">$1,200 <\/td><td class=\"column-3\">$1,180 <\/td><td class=\"column-4\">$20<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\" target=\"_blank\">Houston, TX<\/a><\/td><td class=\"column-2\">$1,101 <\/td><td class=\"column-3\">$1,094 <\/td><td class=\"column-4\">$7<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Fort Worth, TX<\/td><td class=\"column-2\">$1,099 <\/td><td class=\"column-3\">$1,063 <\/td><td class=\"column-4\">$36<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">$1,084 <\/td><td class=\"column-3\">$1,024 <\/td><td class=\"column-4\">$60<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">$1,066 <\/td><td class=\"column-3\">$998<\/td><td class=\"column-4\">$68<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">$1,057 <\/td><td class=\"column-3\">$983<\/td><td class=\"column-4\">$74<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\">$1,029 <\/td><td class=\"column-3\">$993<\/td><td class=\"column-4\">$36<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">$925<\/td><td class=\"column-3\">$902<\/td><td class=\"column-4\">$23<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">$863<\/td><td class=\"column-3\">$834<\/td><td class=\"column-4\">$29<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-338 from cache -->\n<h3>Large cities in the Northeast and California see highest figures as rents in San Francisco and Boston trail Manhattan<\/h3>\n<p><strong>Oklahoma City\u00a0<\/strong>is the 8th most affordable place to rent in the U.S. and, at\u00a0$756 per month, tops the list as the most affordable among larger cities. El Paso, TX\u00a0and <strong>Memphis, TN<\/strong> don&#8217;t fall too far behind as rent in Sun City reached $773 in May, while the Home of the Blues is also home to an affordable monthly average of $789.<\/p>\n<p>Although not at Manhattan-level, rents in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\">San Francisco<\/a> are well past the national average with monthly prices reaching $3,648\u00a0in May. New apartment openings might be what keeps influencing prices in\u00a0Boston, MA, where the average rent reached $3,342 while in\u00a0<strong>Brooklyn, NY<\/strong>, $2,954.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-77083 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_large-cities-map.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_large-cities-map.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_large-cities-map.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_large-cities-map.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_large-cities-map.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>May sees no significant rank adjustments among the country&#8217;s mid-sized cities<\/h3>\n<p>After a 0.8% m-o-m increase, Oakland, CA continues to exhibit the highest rent among mid-sized cities. The $1,707 average <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/miami-fl\/\">rent in\u00a0Miami, FL<\/a> wraps up a top otherwise dominated by California mid-sized cities: Long Beach ($2,026), <strong>Santa Ana<\/strong> ($1,938), and <strong>Anaheim<\/strong> ($1,795).<\/p>\n<div>\n<p>As expected,\u00a0<strong>Wichita<\/strong>&#8216;s $647 average rent remains the lowest in the country after a symbolic $1 m-o-m increase. Next up is\u00a0<strong>Tulsa, OK<\/strong>, which has the only other average rent still in the $600s. Well below this month&#8217;s national average are\u00a0<strong>Tucson, AZ<\/strong> with $864, Albuquerque, NM with $878, and <strong>Lexington, KY<\/strong> with $909.<\/p>\n<\/div>\n<p><a href=\"#fulltable\">See the complete list of cities at the end of this report<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-77071 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_mid-size-cities-map.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_mid-size-cities-map.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_mid-size-cities-map.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_mid-size-cities-map.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_mid-size-cities-map.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>The second quarter shows no changes in smaller cities across the U.S.<o:p><\/o:p><\/h3>\n<div>\n<p>Small communities did not see high rent fluctuations this quarter as Toledo, OH\u00a0($715) and <strong>Brownsville, TX<\/strong> ($722) continue to one-up each other in affordability. The average rent price in <strong>Amarillo<\/strong> reached $732 and $735 in <strong>Killeen, TX<\/strong> while renting in\u00a0Independence, MO\u00a0remained unchanged as of last month ($751). California is home to smaller cities that display the highest average rents.\u00a0<strong>San Mateo<\/strong> snags the first place at $3,322, while\u00a0Sunnyvale comes in third with $2,931, and <strong>Santa Clara<\/strong> wraps it up at $2,892\/month on average.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-77077 size-full\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_small-cities-map.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_small-cities-map.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_small-cities-map.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_small-cities-map.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_small-cities-map.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>May RentCafe searches show renters&#8217; interest in 2-bedroom apartments\u00a0<o:p><\/o:p><\/h3>\n<div>\n<p>Traffic data shows\u00a0<strong>2-bedroom apartments <\/strong>continue to be the top-most searched unit type on\u00a0<a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a>\u00a0\u2014 almost 44% of all May searches. Hits on <strong>1-bedroom apartments<\/strong> make up a little over 26% of traffic, while <strong>3-bedrooms<\/strong> are third-most popular among potential renters&#8217; preferences. Making up for almost 18% of searches, 3-bedroom units are more popular than <strong>studios<\/strong> (12%) this month.<\/p>\n<p><script id=\"infogram_0_07d27083-ba57-4798-bae2-3787c978e713\" title=\"Traffic Shares - Rent Report May\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?75A\" type=\"text\/javascript\"><\/script><\/p>\n<h3><strong id=\"fulltable\">Curious about rents in cities like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\">Philadelphia<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/raleigh-nc\/\">Raleigh<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/st-paul-mn\/\">St. Paul<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cincinnati-oh\/\">Cincinnati<\/a>, or\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/minneapolis-mn\/\">Minneapolis<\/a>? Check the average rent price in your city by using this interactive table:<\/strong><\/h3>\n<p><script id=\"infogram_0_cf4d08f6-f1a8-4a4a-a880-5842cc4af1a1\" title=\"Avg Rent by City Type - May\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?Bs5\" type=\"text\/javascript\"><\/script><\/p>\n<p><strong><em>Methodology:<\/em><\/strong><\/p>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>To compile this report, RentCafe\u2019s research team analyzed rent data across the 260 largest cities in the US.\u00a0The data on average rents comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company <\/em><em><a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a><\/em><em>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. The national average rent includes over 130 markets across the U.S., as reported by Yardi Matrix.<\/em><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.For more in-depth, customized data, please contact us at <a href=\"mailto:media@rentcafe.com\" target=\"_blank\" rel=\"noopener noreferrer\">media@rentcafe.com<\/a>.<\/p>\n<p><!-- This site is converting visitors into subscribers and customers with OptinMonster - https:\/\/optinmonster.com --><br \/>\n<script type=\"text\/javascript\" src=\"https:\/\/a.optmnstr.com\/app\/js\/api.min.js\" data-account=\"63393\" data-user=\"56204\" async=\"\"><\/script><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: The U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. The average rents in 64% of the 260 cities included in this report are below the national average, while 36% are above. Average rent in Manhattan, NYC&hellip;<\/p>\n","protected":false},"author":68,"featured_media":77080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4245,3660,3659],"tags":[],"class_list":["post-76639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apartment-rent-report","category-real-estate-news","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442 - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442\" \/>\n<meta property=\"og:description\" content=\"Key takeaways: The U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. The average rents in 64% of the 260 cities included in this report are below the national average, while 36% are above. Average rent in Manhattan, NYC&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-15T13:30:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-10T14:41:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Alexandra Ciuntu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexandra Ciuntu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\",\"name\":\"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442 - RentCafe rental blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png\",\"datePublished\":\"2019-06-15T13:30:08+00:00\",\"dateModified\":\"2020-01-10T14:41:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/4c76007557cc34ca15b098430ca4d25a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png\",\"width\":890,\"height\":400,\"caption\":\"monthly-report_may_2019_featured-image\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rentcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/\",\"name\":\"RentCafe rental blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/4c76007557cc34ca15b098430ca4d25a\",\"name\":\"Alexandra Ciuntu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"contentUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96\",\"caption\":\"Alexandra Ciuntu\"},\"description\":\"Alexandra is a Senior Real Estate Writer for Point2Homes. She holds a BA in Language and an MA in Journalism and Cultural Studies. With over five years of experience in covering and interpreting housing market trends, she has written extensively on various real estate topics, including renter demographic shifts, residential development, the dynamics of house rentals, market reports, and industry news. Her work has been featured in The New York Times, Bloomberg, Barron\u2019s, Inman, Forbes, Architectural Digest, and MarketWatch, earning her bylines in various other industry publications. Alexandra can be reached at Alexandra.Ciuntu@Yardi.com.\",\"sameAs\":[\"Alexandra.Ciuntu@Yardi.Com\"],\"url\":\"https:\/\/www.rentcafe.com\/blog\/author\/alexandra-ciuntu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442 - RentCafe rental blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/","og_locale":"en_US","og_type":"article","og_title":"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442","og_description":"Key takeaways: The U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. The average rents in 64% of the 260 cities included in this report are below the national average, while 36% are above. Average rent in Manhattan, NYC&hellip;","og_url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/","og_site_name":"RentCafe rental blog","article_published_time":"2019-06-15T13:30:08+00:00","article_modified_time":"2020-01-10T14:41:30+00:00","og_image":[{"width":890,"height":400,"url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png","type":"image\/png"}],"author":"Alexandra Ciuntu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alexandra Ciuntu","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/","url":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/","name":"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442 - RentCafe rental blog","isPartOf":{"@id":"https:\/\/www.rentcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage"},"image":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png","datePublished":"2019-06-15T13:30:08+00:00","dateModified":"2020-01-10T14:41:30+00:00","author":{"@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/4c76007557cc34ca15b098430ca4d25a"},"breadcrumb":{"@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#primaryimage","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png","width":890,"height":400,"caption":"monthly-report_may_2019_featured-image"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rentcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"The Slowest Annual Rise in 18 Months Kick-Starts the Peak Rental Season as the May National Rent Reaches $1,442"}]},{"@type":"WebSite","@id":"https:\/\/www.rentcafe.com\/blog\/#website","url":"https:\/\/www.rentcafe.com\/blog\/","name":"RentCafe rental blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rentcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/4c76007557cc34ca15b098430ca4d25a","name":"Alexandra Ciuntu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96","contentUrl":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2023\/12\/Default_profile_pic.png?w=96","caption":"Alexandra Ciuntu"},"description":"Alexandra is a Senior Real Estate Writer for Point2Homes. She holds a BA in Language and an MA in Journalism and Cultural Studies. With over five years of experience in covering and interpreting housing market trends, she has written extensively on various real estate topics, including renter demographic shifts, residential development, the dynamics of house rentals, market reports, and industry news. Her work has been featured in The New York Times, Bloomberg, Barron\u2019s, Inman, Forbes, Architectural Digest, and MarketWatch, earning her bylines in various other industry publications. Alexandra can be reached at Alexandra.Ciuntu@Yardi.com.","sameAs":["Alexandra.Ciuntu@Yardi.Com"],"url":"https:\/\/www.rentcafe.com\/blog\/author\/alexandra-ciuntu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Monthly-Report_may_2019_featured-image.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/76639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=76639"}],"version-history":[{"count":10,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/76639\/revisions"}],"predecessor-version":[{"id":97873,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/posts\/76639\/revisions\/97873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media\/77080"}],"wp:attachment":[{"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=76639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=76639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=76639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}