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

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BLS Shelter Components Year-Over-Year

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

Do you smell a BLS recount coming?

Mike “Mish” Shedlock