According to the Zillow rent index, U.S median rents increased by 3.3 percent as of December compared to the last year.Zillow expects 1.1 percent increase by December 2016.
The average rent prices reached $1,381 per month in U.S, according to the Zillow Rent Index.That pace of growth is forecasted to slow to 1.1 percent nationwide by December 2016, rising to $1,396 per month, according to the newly released Zillow Rent Forecast.
And while the expected slowdown is significant nationally, in some local markets, rental growth will just barely cool off. In Miami, for example, rents are currently growing at a 3.9 percent annual pace. Over the next year, that pace is expected to slow by just 0.4 percentage points, to 3.5 percent. In San Jose, rents are currently growing by 8.9 percent year-over-year, with growth slowing to a still-hot 7.8 percent annual pace over the course of 2016.