Source: Realtor —
May was a mixed bag for renters.
On one hand, rental prices across the nation hit a new record high—for the 15th month in a row, according to a recent Realtor.com® report. Rents climbed 15.5% annually in May, to hit a median of $1,849 in the nation’s largest metropolitan areas. Rents were up 26.6% over the past two years. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)
However, as punishing as those higher rents are, the percentage by which they increased fell as price growth slowed. While this latest hike is still brutal, it’s lower than the 16.5% rise seen in April and the nearly 17% jump in March.
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