Rents rise in all big US cities for the first time since Covid-19 hit

The national average rent in multi-family buildings rose 10.3% from a year earlier to US$1,539 (RM6,366) – the first double-digit rise in the dataset’s history – after a US$25 (RM103) increase in August, the real-estate firm said. (File pic shows NEW YOrk city skyline)

APARTMENT rents were up in August from a year earlier in all the top 30 US metro areas, the first time that’s happened since the start of the pandemic, according to a new report by Yardi.

The national average rent in multi-family buildings rose 10.3% from a year earlier to US$1,539 (RM6,366) – the first double-digit rise in the dataset’s history – after a US$25 (RM103) increase in August, the real-estate firm said.