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Rents hit $1,962 as growth accelerates in July data

Zillow Research said demand stayed strong and supply tightened, even though nearly 2 in 5 listings still offered a concession.

Reported · Written up by our desk · Residential

Zillow Research reported that asking rents reached $1,962, rising at the fastest pace in more than a year in its July rent update.

The outlet attributed the increase to strong demand and narrowing supply.

Zillow Research also noted that concessions remain widespread, with nearly 2 in 5 listings still offering some form of rental deal.

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