The Streak Continues: Rental Market Hits 6 Straight Months Of Double-Digit Growth

1/28/2022 4:50:00 PM

New data shows national rents grew five times faster in 2021 than in 2020.

Price Growth That, Realtor.Com

The Streak Continues: Rental Market Hits 6 Straight Months Of Double-Digit Growth

New data shows national rents grew five times faster in 2021 than in 2020.

In December, the U.S. median rental price grew 19.3% year-over-year to $1,781, which was relatively flat from last month’s level ($1,780). Larger unit rents posted smaller monthly gains than seen from October to November, but grew by double-digits over December 2020. Among 0-2 bedroom units, the median rental price for one-bedrooms grew at the fastest annual pace, up 19.3% to $1,651. 

December rental prices for two bedroom units ($2,003) increased 19.1% year-over-year, coming in slightly below the November median ($2,005). The median studio rental price continued to accelerate in December, rising 18.6% over the same month in 2020 to a two-year high of $1,462.

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S. median rental price grew 19. Earlier this month, she made history as the first woman to break $1 million on the game show.3% year-over-year to $1,781, which was relatively flat from last month’s level ($1,780). With 40 consecutive wins, Schneider holds the title for the second-longest run in the quiz show’s history, collecting $1,382,800 in winnings in the process.  Larger unit rents posted smaller monthly gains than seen from October to November, but grew by double-digits over December 2020. Schneider was the first out trans person to qualify for the tournament, which is made up of previous years’ top players. Among 0-2 bedroom units, the median rental price for one-bedrooms grew at the fastest annual pace, up 19. I still came very close to winning, but I did feel like maybe I was slipping a little bit.

3% to $1,651. “I’m so grateful that I am giving some nerdy little trans kid somewhere the realization that this is something that they could do, too. She later became the first woman and fourth contestant ever to surpass $1 million in earnings.  December rental prices for two bedroom units ($2,003) increased 19.1% year-over-year, coming in slightly below the November median ($2,005)..  The median studio rental price continued to accelerate in December, rising 18. That is, until Wednesday.6% over the same month in 2020 to a two-year high of $1,462..

Nationally, rent growth hit a double-digit pace in 2021, up an average of 10.1% – 5.” However, she did not provide a response to the clue — “The only nation in the world whose name in English ends in an H, it’s also one of the 10 most populous” — and her wager ultimately cost her the game.3 times higher than the 2020 rate (+1.9%) and above the Realtor.com Forecast for 2022 (+7. “I loved hanging out with him, we had great conversation before the taping, but I could tell that he was here to play and that he was going to be good.

1%).  With demand for space rising during Covid, larger unit rents posted the biggest annual gains among unit sizes in 2021, each rising at a double-digit pace. Over the past 12 months, average year-over-year rent growth for two-bedroom and one-bedroom units was 11.” In the weeks since her initial appearance in November, Schneider has landed herself in rarified company.7% (+$196) and 10.0% (+$139), respectively.

Common to big cities that saw an exodus of renters earlier in the pandemic, studio rents declined at the beginning of 2021. 4 biggest pot ever in terms of regular season earnings behind Matt Amodio ($1,518,601), Holzhauer ($2,462,216), and Jennings ($2,520,700). However, studio rents began to recover in the second half of the year as downtown offices and attractions began to reopen, and ended 2021 at an average annual growth rate of 6.1% (+$76).  The real Cinderella story of the 2021 rental market was among smaller secondary metros .” Schneider will return this fall the Tournament of Champions, where she will compete against Amodio and other top contestants from the current season. The year’s fastest-growing rental markets were all outside of big tech cities, with the top 10 led by the relatively affordable Los Angeles alternative of Riverside, California.

Rental popularity in these secondary metros was driven by a number of Covid-related trends in consumer preferences , including the need for more space and easier access to the outdoors. As a result, 2021 annual rent growth across the top 10, on average, was two times faster than the national rate. “This is my favorite show… I was so excited to be here and I just wanted to do my best. In 2021, rents increased by an average of 20.7% in the top 10 markets, led by Riverside (+28.5%), Tampa (+25.” optional screen reader.

6%), Memphis (+23.0%), Miami (+22.1%) and Sacramento (+19.5%). Additionally, December data shows many of these markets remained among the fastest-growing metro areas through end-of-year.

  A key trend driving rental demand and price growth in these areas is rising workplace flexibility. In half of 2021’s fastest-growing rental markets, LinkedIn data shows the share of job seekers applying for remote work roles is higher than national average (25.2%), led by Tampa (29.6%).  Comparatively, big tech cities dominated the 2021 list of slowest-growing rental markets, with average rent growth across these 10 metros ending the year at just 2.

0%. However, 2021 data shows big city rents recovered significantly from sharp drops earlier in the year, with average rents declining in just two of the bottom 10. (see table below) Hale added, “Regardless of where you live, renting is generally more expensive now than in prior years. However, expected income growth could give renters more negotiating power – especially if you continue to have workplace flexibility. Those able to work big city jobs while living in secondary metros are still likely to find more affordable rental options than in the biggest tech cities.

Take the example of Tampa – despite being one of the fastest-growing rental markets in 2021, the December median rental price ($2,038) remained significantly lower than in a big northeastern city like New York ($2,670).” Follow me on .