Rents Are Rising Quickly Everywhere (In Mesa YOY currently stands at 21.6% cf 4.2% same time last year)

First of all, thanks to Ivan Popov,Chief Economist at Apartment Listings, for making this data available every month.

Hi Tim,

This month our national rent index jumped another 2.5%, tying last month’s record-setting growth. With inflation concerns heating up, the national median rent has now increased by 11.5% in 2021, and is 9.4% above the pre-pandemic level from March 2020.

Rents are still below pre-pandemic levels in a handful of pricey markets (e.g., San Francisco, NYC), but even in these cities prices are quickly rebounding. In fact, rents are now increasing in virtually all of the nation’s 100 largest cities; in some cases rapidly.

For more analysis of the newest monthly data, check out our full August Rent Report.

 

Here are some highlights:

• Rents in Mesa increased 3% month-over-month, compared to 2.5% nationally.
• Month-over-month growth in Mesa ranks #35 among the nation's 100 largest cities.
• Year-over-year rent growth in Mesa currently stands at 21.6%, compared to 4.2% at this time last year
• This is the #10 fastest increase among the nation's 100 largest cities.
• Median rents in Mesa currently stand at $1258 for a 1-bedroom apartment and $1444 for a two-bedroom.

 

Check out the full report here. And as a reminder, the full details of our rent estimate methodology are explained here. 

If you have any questions or would like to hop on a call to discuss these findings, please let me know!

Best,

Igor

 

 

 

 

Igor Popov

Chief Economist

Apartment List

ipopov@apartmentlist.com