PRICE PUNCH: November rent rises, pushing median prices above $2K again
increased in November after two months of consecutive declines, pushing median rent prices above $2,000 again, according to a recent report.
Rent, which is owned by Redfin, reported that November rent rose 1.23% month over month. That is after September and October saw rents decrease by nearly 1% and 2.5% on a monthly basis, respectively, according to the data from Rent's December report. November's median rent reached $2,007, which is up from a median of $1,983 the prior month. However, that is still below August's peak of $2,053, the data showed.for two and three-bedroom apartments coupled with a rebound in prices for the most expensive apartments in Rent's inventory, according to the report.
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