Rent Price Hikes are Easing #realestate #investment #homeownership

Source:  National Real Estate Investor

Renters may finally be getting some relief.  Apartment rents are not increasing as much as they have in the last few years.

None of the major metro areas studied had seen annual rent growth of more than 10 percent.  Rents rose 2.2 percent, on average, in the U.S. over the 12 months that ended in the third quarter, according to Yardi Matrix.

That marks the slowest rate increase in rental prices since April 2011.
The markets where rents increased the most quickly in 2016 have slowed down by the most in 2017, according to data from Axiometrics.  Sacramento still has the strongest rent growth in the U.S., but apartment rents grew by 6.9 percent over the 12 months that ended in the third quarter of 2017.  For comparison, a year ago rents rose by nearly 12 percent in that time frame.

Many of the markets that saw home prices plunge by the most during the housing crash are seeing some of the highest rent upticks still.

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