New data: Mesa rents converging to long-run trend | Apartment Rent Research

 

Apartment List Research <research@emp.apartmentlist.com>	Thu, Sep 24, 6:15 AM (3 days ago)
to me

Hi Tim, A new report from the Apartment List Economics team highlights a striking milestone in the U.S. rental market – after years of sharp up and down swings, the national median rent is now at a level consistent with where it would have been if rent prices had simply continued on the trajectory of slow and steady growth that they had been on prior to the pandemic.  Of course, underneath this national finding, trends vary substantially across markets. In the Buffalo, NY metro, the median rent is 37% higher than it would have been had rents increased at a typical rate, whereas in the Austin, TX metro, rents are 15% below that level. Key findings from the report:  As of August 2026, the median rent in Mesa sits at $1,292, which is near where it would have been if rent growth since 2020 had remained on the slow and steady trajectory of 2.5% annual growth that rent prices nationally had been on pre-pandemic ($1,301). The local rent growth trend prior to the pandemic was faster than the national trend, with Mesa's median rent increasing by an average of 8.0% from 2017 to 2019. If Mesa's rent growth had continued on its own pre-pandemic trajectory, the median rent today would be $1,837, which is 30% above the actual price observed today.   See the full report to learn more about this milestone and what it means for the rental market. The report includes an interactive version of the chart above that allows you to explore data in your market and others. Please reach out with any questions or to speak with one of our researchers about this data. For more data, tools, and insights about the rental market, please visit the Apartment List Research Blog.   To reach our team directly, you can reply to this message or send an email to research@apartmentlist.com.