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Rents in New York and South Florida metros surged more than 30%, led nationwide rise

Posted On: Jan 24, 2022   |   Posted By: The Real Deal New York

Average monthly rents rose by 13 percent since last year, with the bulk of the price surges recorded in popular metro areas, according to a new report from Redfin. The report pins the average monthly rent nationwide in October at $1,858, a 12.5 percent year-over-year rise from 2020. Average rent in October in 2020 was only $1,651, but has been rising ever since. Some metros are seeing sharper rent increases than others. Three markets in

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