The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

How lenders can prepare for increasing regulatory pressures

As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Real Estate

RentCafé: Rental prices heat up just in time for spring renting season

92% of the country's largest 253 cities saw rent increases in March

It’s finally spring renting season and while the climate is heating up, data from RentCafé indicates national renting prices are as well.

According to the company’s recent analysis, the national average rent in March totaled $1,430. Not only is this a 0.3% increase from the previous month, but it is also $44 higher than the same period in 2018.

In fact, RentCafé’s data shows that 92% of the country’s largest 253 cities saw their rent increase last month. Surprisingly, only 6% of rents remained unchanged and 2% experienced slight drops compared with 2018.

So, where are these increases and decreases mainly happening? Well, according to the company’s data, rents are rising and falling mainly in small cities.

“The most significant year-over-year changes in March 2019 were experienced in small cities across the country,” RentCafé writes. “In terms of highest annual rent increases, the national scene is dominated by small cities, with Mesa, Arizona, the only mid-sized exception.”

RentCafé also points out cities in Texas like Midland and Odessa, which continue to “reign supreme” with increases of 14.6% and 13.3%, respectively. That being said, Chandler, Arizona; Mesa, Arizona; and Henderson, Nevada, are the only other cities to boast annual rent increases of over 9%.

However, other small cities like Pearland, Texas; Santa Rosa, California; and Pembroke Pines, Florida, experienced the slowest rent changes, coming in at -2.3% and -1.4%, respectively.

The image below shows annual rent changes in small cities across the country (click to enlarge):

March Monthly Rent Report

NOTE: By utilizing rental data provided by Yardi Matrix, RENTCafe’s research team analyzed rent data across the 253 largest cities in the country. The report is based on apartment data related to buildings containing 50 or more units.

Most Popular Articles

Treasury removes restrictions on investment properties

The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac.

Sep 14, 2021 By

Latest Articles

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

The United States is grappling with a sharp rise in natural disasters, including wildfires, an active hurricane season, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Sep 17, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please