These information pieces sent by Chris Salvati, Housing Economist at Apartment List are now a regular feature of this blog
Hi Tim,
This month our national rent index jumped another 2.3%, bringing the national median rent price above pre-pandemic projections (see chart below).
But the data continues to show significant regional variation. Rents in a handful of pricey markets are still well below pre-pandemic levels, but prices here are rapidly rebounding. At the other end of the spectrum, in many mid-sized cities where rents recovered quickly from the pandemic, prices continue to boom.
- Rents in Mesa grew 3.0% in June, compared to 2.3% nationally. Mesa's monthly rent change ranks #3 among the nation's 100 largest cities.
- Rent prices in Mesa are currently 19.8% higher than they were one year ago, and 19.1% higher than they were last March, right before the start of the pandemic.
- Median rents in Mesa currently stand at $1224 for a 1-bedroom apartment and $1404 for a two-bedroom.
Check out the full report here: https://www.apartmentlist.com/
If you have any questions or would like to hop on a call to discuss these findings, please let me know!
All the best,
Chris
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