National rents reached a new high in February 2022, at 17.1% year-over-year. While there is an anticipated cooling period to come from the recent accelerated pace in housing costs, the budget for many.
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In February, national rents grew 17.1% year-over-year to a new high of $1,792 per month, with rents continuing to increase the most in the Sun Belt metros at an average growth rate of 22.5%.