Press release from Apartment List:
This month our national rent index jumped another 2.5%, tying last month’s record-setting growth. With inflation concerns heating up, the national median rent has now increased by 11.5% in 2021, and is 9.4% above the pre-pandemic level from March 2020.
Rents are still below pre-pandemic levels in a handful of pricey markets (e.g., San Francisco, NYC), but even in these cities prices are quickly rebounding. In fact, rents are now increasing in virtually all of the nation’s 100 largest cities; in some cases rapidly.
For more analysis of the newest monthly data, check out our full August Rent Report.
Here are some highlights:
-Rents in Asheville increased 4% month-over-month, compared to 2.5% nationally.
-Year-over-year rent growth in Asheville currently stands at 18.3%, compared to -2% at this time last year.
-Median rents in Asheville currently stand at $1185 for a 1-bedroom apartment and $1571 for a two-bedroom.The full details of our rent estimate methodology are explained here.
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