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National News: Rents Continue to Rise & California Leads the Way!

  • Writer: Debora Sanders
    Debora Sanders
  • Jan 27, 2022
  • 1 min read

As we know rents in California and on the Central Coast are high and we continue to have a shortage of affordable options. It looks like we aren't alone but 5 of the top 10 cities for highest rents in the US were in California and they continue to rise.
The national average rent climbed to a record high of $1,409 in July, up 2.8 percent year over year according to RentCafe reports.
The largest apartment rental increases were in Orlando (7.7 percent year over year); Las Vegas (6.4 percent); and Phoenix (6.2 percent). On the other hand, the slowest growing rents were in San Antonio, Texas (1.6 percent); Manhattan (1.7 percent); and Washington, D.C. (2 percent).
Take a look at the current highest and lowest rents in the U.S.:
Source: “Seasonal Demand Pushes Up Apartment Rents in July in 88 Percent of Cities,” RentCafe Blog (Aug. 1, 2018)
 
 
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Debora Sanders is a real estate salesperson licensed by the state of California affiliated with Sotheby's International Realty. Sotheby's International Realty is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting, or other professional advice outside the realm of real estate brokerage.

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