Median rent across the country rose 2.4% over the past year, driven mostly by single-family rental prices.
Builder
After slow growth during 2017, rental prices have started to tick back up again, driven mainly by an increase in single-family rental prices, according to the November Zillow Real Estate Market Report.
Median rent across the country rose 2.4% over the past year to a median rental price of $1,435 per month, the highest median rent Zillow has ever reported. With the recent pick up in rent prices, rent growth is now rising at the same pace as incomes for the first time since June 2016, causing renters to put more of their income toward a monthly rental payment. Incomes rose 2.5% since last November, and they have been hovering around that rate for over a year.
