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Thursday, December 02, 2021

Rents Still Increasing Sharply

by Calculated Risk on 12/02/2021 02:12:00 PM

Today, in the Real Estate Newsletter: Rents Still Increasing Sharply Rent increases slowing seasonally


The Zillow measure is up 11.2% YoY in October, up from 10.3% YoY in September. And the ApartmentList measure is up 17.7% as of November, up from 16.9% in October. Both the Zillow measure (a repeat rent index), and ApartmentList are showing a sharp increase in rents.
Clearly rents are increasing sharply, and we should expect this to spill over into measures of inflation in 2022. The Owners’ Equivalent Rent (OER) was up 3.1% YoY in October, from 2.9% in September - and will increase further in the coming months.