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Rent Increases Up Sharply Year-Over-Year, Pace is Slowing

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"Welcome to the June 2022 Apartment List National Rent Report. Rent growth accelerated slightly again this month, with our national index up by 1.2 percent over the course of May. So far this year, rents are growing more slowly than they did in 2021, but faster than the growth we observed in the years immediately preceding the pandemic. Over the first five months of 2022, rents have increased by a total of 3.9 percent, compared to an increase of 6.1 percent over the same months of 2021. Year-over-year rent growth currently stands at a staggering 15.3 percent, but is down slightly from a peak of 17.8 percent at the start of the year."

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