Rent Growth Crawls, but Costs Still High

Rent growth is crawling at its slowest pace in five years, with rents up nationwide just 0.7 percent year-over-year, according to the recently released March Zillow® Real Estate Market Reports. Notably, rent growth in the West, which has led appreciation, is stalling. The median rent is now $1,408.
Zillow Chief Economist Dr. Svenja Gudell attributes the brake on appreciation to a more balanced supply/demand scenario.
“The slowdown in rental appreciating is mainly due to new constructio