The national average rent went up by 3.2% in the past year but dipped by 0.1% month-over-month, reaching $1,471 in September according to the Rent Cafe Apartment Market Report – a dip of just $1 to $1,471 – for the first time in two years.
Since last month, apartment rents saw minor declines in more than half of the cities we analyzed. Small and large cities lead the trend, with prices dropping in 59% of small cities and 56% of large cities, while 42% of mid-sized cities saw their rates dwindle in September.
Editor’s Note: The above excerpts are from the original article by Mish Shedlock, and have been re-formatted, color highlighted, edited ([ ])* and abridged (…) by Lorimer Wilson, editor of munKNEE.com – Your KEY To Making Money! – for the sake of clarity, and brevity to provide a fast and easy read.
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*(The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)