{"id":82138,"date":"2019-07-15T00:42:41","date_gmt":"2019-07-15T07:42:41","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=82138"},"modified":"2022-11-29T05:49:36","modified_gmt":"2022-11-29T13:49:36","slug":"2019-mid-year-rent-report-national-average-rent-ends-first-half-year-1465","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/2019-mid-year-rent-report-national-average-rent-ends-first-half-year-1465\/","title":{"rendered":"2019 Mid-Year Rent Report \u2014 The National Average Rent Ends the First Half of the Year at $1,465"},"content":{"rendered":"

Key takeaways:<\/em><\/strong><\/h3>\n
    \n
  • The U.S. average rent increased by 3.2% ($45) year over year reaching $1,465 in June 2019, up by 0.8% ($12) month over month, according to\u00a0Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n
  • Throughout the first half of 2019, the national average rent has increased by 2.6% ($37).<\/em><\/li>\n
  • Wichita, KS is the country’s most affordable city to rent in, at $656 per month, while the average monthly rent in Manhattan, NYC is $4,190.<\/em><\/li>\n<\/ul>\n

    Mid-year national average rent sees a spike\u00a0as peak rental season is in full effect<\/h3>\n

    In true seasonality fashion, June brings rent increases consistent with the end of the second quarter. Nationally, average rent prices reached\u00a0$1,465<\/strong>\u00a0following a 3.2% annual increase and up 0.8% since last month\u00a0\u2014 the highest monthly jump since May 2018.\u00a0 Compared to last June, renters pay $45 more on average\u00a0according\u00a0to the latest\u00a0rent survey from Yardi Matrix<\/a>.<\/p>\n

    Since the beginning of the year, apartment rents have increased by 2.6% \u2013 that\u2019s an extra $37 added to the average monthly rent in six months. Rent increases during the first half of the year are typically more accelerated, whereas during the second half of the year they\u2019re expected to slow down, a typical pattern confirmed by rent evolution in the past years.<\/p>\n