U.S. Apartment Rents Jump as Tenant Demand Stays Strong
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Apartment rents in the U.S., already at record highs, have yet to cool down.
Effective rents, the amount tenants pay after concessions from landlords, climbed 1 percent in the second quarter from the previous three months to an average of $1,144, according to a report from Reis Inc. The pace of growth accelerated from 0.7 percent in the first quarter and 0.6 percent at the end of last year.