As 2017 Ended, Rents Rose

The median national rent rose toward the end of 2017, contrary to the predominant trend for the year, according to the November Zillow® Real Estate Market Report. The gain, 2.4 percent year-over-year to $1,435, is on par with income increases, which have ticked up 2.5 percent since November 2016.

“After about a two-year slowdown, rent growth is starting to pick back up across the nation,” says Aaron Terrazas, senior economist at Zillow. “The slowdown in rental appreciation, combined with consistent income growth, gave renters some reprieve from worsening rental affordability over the past few years.”

However, “As rental growth begins to catch up with income growth, affordability will deteriorate, placing a squeeze on budget-constrained renters,” Terrazas…