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Annual Apartment Rent Growth, Occupancy Hit New Highs In July

Updated: Aug 10, 2023

The apartment industry is bouncing back after a tough year-and-a-half, and new records set in July for annual apartment rent growth and occupancy levels have solidified the trend, according to a report from real estate software and data analytics company RealPage.

Effective asking rents rose 2.2 percent from June to July, and 8.3 percent year over year, blowing past growth records set between 2000 and 2001. As of July, the average monthly apartment rent in the U.S. hit $1,549.

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