Rents Expected to Flatten in 2016
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Hot markets are still going to be hot in 2016, but rents won’t rise as quickly as they have been, says Sudell.
SEATTLE—Rent appreciation will level off over the next 12 months, slowing to an annual rate of 1.1% by December 2016, according to the new Zillow Rent Forecast. The national Zillow Rent Index at the end of 2016 is projected to be $1,396—compared to $1,381 in December 2015.
Zillow is forecasting a decrease in the rate of rental appreciation amid a rental affordability crisis that has renters in some markets spending almost half of their income on rent. Some of the fastest growing metros had double-digit annual rental appreciation at the end of 2015…
Rents Expected to Flatten in 2016
