Average monthly U.S. apartment rent hits $1,099

The average monthly apartment rent in the U.S. hit $1,099 in the second quarter of 2014, up 3.4% from a year ago.

This was the 18th consecutive quarter in which rents increased, according to research firm Reis, Inc. Over the past year, rents rose 4% or more in many cities across the country, including San Francisco, Seattle, Minneapolis, Houston, Nashville, and Denver.

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