The critical housing shortage is now taking its toll on renters. Potential buyers are having an increasingly difficult time finding a home they can afford, so they are renting longer. That's pushing rental demand higher and rent prices along with it.


The median rent in the United State rose 2.8 percent over the past year to $1,445, the fastest pace of appreciation since May 2016, according to Zillow. Rents are rising fastest in some expected markets, like Seattle and Sacramento, California, and in some unexpected places, including Minneapolis and Atlanta.

Rental appreciation had slowed in the past two years as new apartment supply came online following a construction boom. But it is now rising again due to the record-low supply of homes for sale.


Cristin Smith profile photo
Cristin Smith
Broker, REALTOR®
Western Skies Real Estate
Main : (406) 696-4613
Cristin Smith profile photo
Cristin Smith
Broker, REALTOR®
4066964613