Rent Growth Slows in Denver, Atlanta and Las Vegas

While U.S. apartment rent growth remains fairly consistent around 3%, individual markets are seeing momentum ebb and flow in the latest performance data. In January, annual rent growth in three markets – Denver, Atlanta and Las Vegas – slowed notably. After running above the national norm for most of 2018, annual rent growth in Denver has faltered a bit of late to stand at 1.6% in January – lowest rate since 2010. Similarly in Atlanta, rent growth hit a rate the market hasn’t seen since 2012. At 2.7% in January, Atlanta rents run just below the national norm for the first time since April 2013. Rent growth in Las Vegas hit its lowest rate since April 2017, though considering the market has been growing rents so far above the national norm for years, its recent deceleration represents more of a leveling out. At 4.7% annual rent growth in January, rents are still growing much faster in Las Vegas than the national norm.