Data Point: 2022-12-19, The ZORI (Nov 2022)
Starting to see a few headlines like "Rents Slide by Largest Amount in at Least 7 Years"! So is it here? Despite all other indicators - low vacancy, high employment, etc... - is the zenith of rents behind us? Let's check the data.
Nope. Locally, there has been no decline in rents. November rents increased by ~1% for both the MSA and The City relative to October; that's roughly $16/mo. This increase is very much on trend. So far this year the month-to-month changes in rent total roughly $141 with an average monthly increase of $14.