In March, as GlobeSt.com reported, Apartment List’s national index jumped by 1.1%, which was its largest monthly increase going back to the beginning of 2017. That doubled historical growth in the month. In the previous three years, March’s year-over-year rent growth was 0.6%. In addition, the rent growth in March knocks out COVID’s declines in Apartment List’s index.
The index recently started growing ahead of seasonal trends seeing improvement in both pricey coastal markets and smaller cities that have grown popular through the pandemic.