Abstract
Rental markets around the country have recently spiked, causing significant issues in terms of affordability and availability and even
prompting talk of nationwide rent controls. The drivers of this recent
phenomenon will almost certainly be parsed out in future research.
However, there is a critical and pressing need for timely information
on recent rent movements in the nation’s rental markets and their
affordability. This brief provides information (projected rents, degree
of over- or underpricing relative to historic trends, year-over-year
rent change, and affordability of the average rental unit) for 100U.S.
residential rental markets. A sample of the April 2023 Miami metro
market is provided in this brief to deliver guidance on these estimations. Monthly reports are currently provided in the Waller, Weeks
and Johnson Rental Index. The goal of the index is to facilitate more
informed decision making by consumers, real estate professionals,
and policymakers
