Overall, the U.S. median rent is $1,545 a month, up 3.2% from a year ago.
MFE
As the rental market continues to heat up nationwide, rent prices are rising the fastest in sun belt cities, according to the latest quarterly HotPads® Rent Report.
Of the 10 fastest-rising rental markets in the United States, only one – Salt Lake City – is not in the sun belt. Phoenix has the fastest-rising rents out of the 50 largest metro areas, followed closely by Las Vegas. The median rent in Phoenix is $1,545 a month, up 6.9% compared to this time last year. The median rent in Las Vegas is $1,465 a month, up 6.8% from a year ago. After Phoenix and Las Vegas, the fastest rising rents are in Sacramento, Atlanta, Riverside, and Orlando, where rent prices are rising more than 5% annually.
Overall, the U.S. median rent is $1,545 a month, up 3.2% from a year ago. Across the country, the rental market has been on an upward swing since the second half of 2018.
