- June 18, 2021
- Posted by: Stratford Team
- Category: Business
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Home rental prices, which dropped in many U.S. cities throughout the coronavirus pandemic, have reached their highest level in about two years.
As of May 2021, the median national rent reached $1,527, up 5.5%, compared to a year ago, according to Realtor.com. The median rent in May increased in 43 of the 50 largest metro areas, compared to the same period a year ago. This is a slight increase from 40 metro areas in April and 33 in March. Meanwhile, rental prices are up 7.5% nationwide over the past two years.
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According to Realtor.com analysts, the uptick in price bolsters the notion that “rents have fully recovered in many of the nation’s largest cities and are on track to speedy recovery in many others” — pushing those highly sought after coronavirus discounts further out of reach.
There is a multitude of factors contributing to this increase…
