Average rental prices rise as nation faces multifamily housing shortage 

RentCafé indicates that the nation’s average rent rose $48 month over month to $1,469 in July. Not only is this a 0.2% increase from the previous month, but it is also 3.4% higher than the same time period in 2018. Doug Ressler, Manager of Business Intelligence at Yardi Matrix, said rents continue to rise partly because more and more Americans are looking for apartments while too few are being built.