Rents Growth Accelerates After a Relatively Flat 12 Months
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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investors.zillowgroup.com
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Source: PR Newswire
SAN FRANCISCO, March 29, 2019 /PRNewswire/ -- Across the U.S., rent growth is picking up its pace following a year of relatively stagnant appreciation, according to the latest quarterly HotPads® Rent Report. The U.S. median rent is $1,530 per month, up 3.1 percent from a year ago. Rent growth slowed in 2018, but appreciation has been on the rise in recent months. Now, rent growth is at its highest level since August 2017.Compared to this time last year, rents are rising faster in 36 of the country's 50 largest metro areas. Austin had the largest increase in rental appreciation, followed by Phoenix and San Jose. The median rent in Austin is $1,760, up 3.2 percent from a year ago – last year at this time, rents in Austin rose 1 percent annually.While Austin's rent appreciation had the largest jump, rents in Phoenix are still rising faster than any other market analyzed. The median rent in Phoenix is $1,510 per month, up 6.6 percent over the past year. A year ago, Phoenix rents rose 4.9
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