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May 21, 2019 | National Average Rent Rises by 3.0 Percent

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
The national average rent price is $1,436. The pace of rent increases is the lowest in nearly a year.

The Rent Cafe reports the Average Rent Reaches $1,436 in April.

Key Points

  • The national average rent reached $1,436 in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay $42 more on average per month following relatively flat m-o-m rent increases during the off-season.
  • Of the 253 cities included, 64% have average rents below the $1,436 national average, while 36% have average rents above.
  • Average rent was just shy of $650/month in the nation’s most affordable rental market – Wichita, KS, while rents in Manhattan, NY hit $4,130.

20 Largest Metro Areas

BLS Shelter Components

BLS Shelter Components Year-Over-Year

Curiously, the BLS is reporting higher prices than the Rent Cafe.

Do you smell a BLS recount coming?

Mike “Mish” Shedlock

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May 21st, 2019

Posted In: Mish Talk

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