As Summer Season Heats Up, Rental Market Slowdown Begins to Stabilize
The Pro Builder
JULY 11, 2024
The rental market slowdown seems to be stabilizing as the summer season continues. According to housing market data platform Zillow, rents are rising at their fastest rate in nearly a year, with the typical U.S. rent now at $2,054. Year-over-year, rents increased in both the single-family and multifamily sectors. Single-family home rents were recorded at $2,288, increasing 0.4% from May to June 2024 and up 4.7% year-over-year.
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