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Rent Inflation Re-Accelerates to Red-Hot, All Three Now Agree: Zillow Asking Rents, What Big Landlords Said, and Actual Rents Tracked by CPI

May 23, 2023

by Wolf Richter Wolf Street

Debacle on the Inflation Front: The Fed’s victory lap about having licked rent inflation was premature.

The Zillow Observed Rent Index (ZORI), which is based on asking rents, meaning advertised rents that landlords hope to get when a tenant signs the lease, jumped month-to-month by 0.6% in April, the steepest increase since August, after having already jumped 0.5% in March, and 0.3% in February, to a new record of $2,018. Annualized, the increase in April translates into a jump of +7.4%.