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For the First Time Ever, Median Rent Exceeded $2,000, According to June Dwellsy Data
The nationwide median rent increased
The nationwide median rent is $2,045.
LOS ALTOS, Calif. - July 7, 2022 - (Newswire.com)
After a year of relentless rent increases, June saw median nationwide rent rise above $2,000/mo. for the first time - to $2,045/mo.
Here are the primary rent market stats from Dwellsy's data in the month of June:
- $2,045: Median asking rent in June across the country
- 2.5%: 1-month growth in rent vs. $1,995/mo. in May 2022
- 27.9%: 1-year growth in rent vs. $1,599/mo. in June 2021
"Though we are seeing record rent levels, there is some good news for renters," said Jonas Bordo, Dwellsy's CEO and Co-Founder. "The growth rate for rent increases in June has decreased in comparison to previous months. A 2.5% monthly increase is a big number vs. historical rates of increase, however, the last two months were 3.9% and 3.8%, respectively."
Apartment rent is up 5.4% or $84/mo. In contrast to the last time Dwellsy data showed apartment rent declining (Dec. vs. Nov.), this is a time of year when we would expect seasonal rent increases. Typically, rent moves up during the summer and fall and ebbs in the winter months.
As in virtually every month for the past year, single-family rentals continue to drive overall market rent increases, with rent for this group increasing by $40/month in June vs. May. Asking rent growth in the past year for single-family rentals is a staggering 35.7% or $605/mo., underlining the degree to which these properties are in demand.
National Median Asking Rent, by Month and Property Type
| Month | Single-Family Homes | Apartments | All Rentals |
| Jun-21 | $ 1,695 | $ 1,564 | $ 1,599 |
| Jul-21 | $ 1,699 | $ 1,585 | $ 1,600 |
| Aug-21 | $ 1,725 | $ 1,600 | $ 1,650 |
| Sep-21 | $ 1,759 | $ 1,495 | $ 1,649 |
| Oct-21 | $ 1,800 | $ 1,475 | $ 1,600 |
| Nov-21 | $ 1,895 | $ 1,520 | $ 1,630 |
| Dec-21 | $ 1,954 | $ 1,515 | $ 1,670 |
| Jan-22 | $ 2,080 | $ 1,550 | $ 1,750 |
| Feb-22 | $ 2,160 | $ 1,562 | $ 1,820 |
| Mar-22 | $ 2,175 | $ 1,575 | $ 1,850 |
| Apr-22 | $ 2,210 | $ 1,600 | $ 1,920 |
| May-22 | $ 2,260 | $ 1,650 | $ 1,995 |
| Jun-22 | $ 2,300 | $ 1,648 | $ 2,045 |
About Dwellsy
Dwellsy is a comprehensive residential home rentals marketplace that has more than 13 million residential rental home listings.
For more information, contact Press@Dwellsy.com.
Press Release Service by Newswire.com
Original Source: For the First Time Ever, Median Rent Exceeded $2,000, According to June Dwellsy Data
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