Average rents increased across the country by 3.6 percent in 2014, according to new data from the real estate research firm Reis, Inc. The average monthly lease rate is now $1,124.38, the highest number since Reis started collecting data in 1980.
It’s the fifth year in a row that rents have been on the rise, but this year rent increases affected residents in smaller and midsize cities, and not just the largest cities in the U.S.
Jason Bellini of The Wall Street Journal joins Here & Now’s Lisa Mullins to discuss.
- Wall Street Journal: Smaller Cities Led Way in Rent Increases in 2014