Should You Rent Now or Wait Until the Fall?
Abstract
Rents have soared nationwide because of a severe shortage of inventory and the vagaries of the pandemic, with prices still climbing in most markets. In June, the median asking rent in the country’s 50 largest metros was $2,016, 14.1 percent higher than it was last June. Philadelphia renters negotiated a median monthly rent of $1,795 in July. The median asking price for a rental apartment in July was. In July was $3,600. The average asking price was $1.2,600, up 34 percent over last year. There may actually be some benefit to holding out longer.
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