PROVIDENCE – Rents for new-resident leases climbed 5.1 percent in Providence in the year ending with the 2017 first quarter, according to recently released data from RealPage Inc.
Sacramento, Calif., had the largest increase in the nation, with rents for new-resident leases up 9.8 percent annually, according to RealPage.
The rest of the top five leaders in annual rent growth for new residents are: Seattle, 7.9 percent; Riverside-San Bernardino, Calif., 7.8 percent; Fort Worth, Texas, 6.6 percent; and Atlanta, 6.1 percent. Providence was 11th on the list for its annual rent growth for new-resident leases.
Rents for new-resident leases rose 0.9 percent nationally during the first quarter, taking the annual price hike to 3.7 percent, RealPage said. Monthly rents now average $1,302 nationally in the RealPage data set.
Based in Richardson, Texas, RealPage provides software and data analytics to the real estate industry.
