PROVIDENCE – The average rent in the city in June was $2,021, 6.9% higher year over year, according to a Zillow.com report on Tuesday.
That mark was slightly lower than the $2,054 national average, but the increase was somewhat higher than the national average. Nationwide, rents averaged 4% higher in June year over year, according to the report.
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All 10 markets with the fastest-growing rent are in the Northeast and Midwest, according to the report. Boston had the highest annual rent growth at 7%, followed by Hartford, Conn., and Providence both at 6.9%.
Las Vegas had the slowest year-over-year increase at 1.8%. The average rent there was $1,804 per month.
The real estate listing website found rents in the Northeast climbed quickly on a month-to-month basis as well. Providence had the highest monthly spike at 1.2%, followed by New York City at 1.16% and Chicago at 1.1%.
The lowest monthly rent increase was in Phoenix at 0.02%.
The full report can be found here.
