The Shadow
Rent growth is slowing down for the season, a welcome sign for apartment hunters who have battled rapid price increases throughout the pandemic. The national median rent increased just 0.5% in August, down from over 1% in July. In most places, rents are still rising a bit faster than they did in pre-pandemic years, but much slower than they did last year.
For the latest data, see our September Rent Report, complete with median rent and price growth data through August 2022. Some highlights below:
- Rents in Roanoke increased 1.2% month-over-month in August, compared to a 0.5% increase nationally.
- Year-over-year rent growth in Roanoke currently stands at 23.1%, compared to 17.9% at this time last year. Rents in Roanoke are up by 44.5% since the start of the pandemic in March 2020.
- Median rents in Roanoke currently stand at $1037 for a 1-bedroom apartment and $1264 for a two-bedroom.
Check out the full report here, and for a complete look at national trends, read our national report. Our raw rent stats – for cities, metros, and states – can also be downloaded at any time from this page.
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