Zillow launches rent index

Company reports rise in estimated median US rental rate

Want to see the future of Real Estate tech?
Limited seating available for ICSF Hacker Connect, July 17

Online real estate research and listing site Zillow launched a new rent index, the counterpart to its estimated home values index, on Tuesday. The inaugural release of the index shows that median rents rose 3 percent year over year in January.

"We haven’t had a good way to quantify what is happening with rental rates until now, and the inaugural Zillow Rent Index shows us a healthy and growing rental market across the majority of the country, even as home values continue to fall," said Zillow Chief Economist Stan Humphries.