Markets in West and Sunbelt drive rent increases

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Average rents in the U.S. rose 6.3 percent in the past 12 months to an all-time high of $1,150. According to a monthly survey conducted to Yardi, rents also rose by 1.3 percent month over month in June. West Coast and Sunbelt markets are largely responsible for the overall growth in year-to-year rents.