Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Rent is substantially up across the country for yet another month. Single-family rentals continue to drive overall rent increases while apartment rent increases are far more modest.
LOS ALTOS, Calif., April 5, 2022 /PRNewswire/ -- March brought continued substantial rent increases yet again. Key stats, according to Dwellsy's analysis of 509,911 available rentals:
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
- $1,850 /mo: Median asking rent in March across the country
- 1.6%: 1 month growth in rent (vs. $1,820 /mo in Feb 2022 - a 21% annualized run rate for the year)
- 19.4%: 1 year growth in rent vs. $1,550 /mo in March 2021
- 30.5%: Median rent as a share of pre-tax median income
That 19.4% increase translates into $300 more in rent expense for renters each month for the same rental last year, across the full market.
Major markets (> 1M population) with the highest rent increases in the past year are as follows:
Rank | Metropolitan | Median Asking Rent, | Percentage Increase |
1 | Tucson, AZ | $1,865 | + 139% |
2 | Kansas City, MO-KS | $1,880 | + 88% |
3 | Austin, TX | $2,379 | + 69% |
4 | Memphis, TN | $1,800 | + 68% |
5 | Phoenix, AZ | $2,160 | + 66% |
6 | Dallas, TX | $2,050 | + 63% |
7 | Las Vegas, NV | $2,070 | + 60% |
8 | Orlando, FL | $2,295 | + 57% |
9 | Tampa/St. Petersburg, FL | $2,340 | + 56% |
10 | Jacksonville, FL | $2,060 | + 53% |
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
"Most of these markets share a common theme: lots of single-family rental homes and lower cost of living vs. cities like San Francisco and New York," said Jonas Bordo, CEO and Co-Founder of Dwellsy.
"Over the past two years, single-family rentals have been by far the most in-demand property type as renters look for more space, seek COVID-safe home entry/exit (no elevators!), and trade into markets with lower costs of living," said Bordo.
In March, single-family rentals continued to bear the brunt of rent increases. Over the past year, single-family rent has risen 36% from $1,600 in March of 2021 to $2,175 in March of 2022, while apartment rents have risen just 3.6%.
For more, please visit the Dwellsy data page, our comprehensive ranking of rental markets, or our single-family rentals city ranking.
About Dwellsy
Dwellsy is the marketplace that renters want and deserve, a comprehensive residential home rentals marketplace based on the radical concept that true, organic search in a free eco-system creates more value than the pay-to-play model embraced by all of the current rental listing services. Dwellsy has more than 12 million residential rental home listings, more than any legacy classifieds site—as well as the most diverse set of listings—including single-family rentals, condos, townhouses, and apartments at all price points.
SOURCE Dwellsy.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.