Rents are heating up as prices cool

Real Estate

Home prices may be cooling off right now, but rents are heating up yet again.

After taking a breather in 2018, due to new supply on the market, rents for both single-family homes and multifamily apartments are now rising at the fastest pace in nearly a year, according to Zillow.

The median monthly rent in February came in at $1,472, an increase of 2.4 percent compared with February 2018. For the typical renter, this means about $400 more a year. This after rents actually fell last fall for the first time in more than six years.

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