U.S. apartment rents inched up just 0.1% in July to a national average of $1,747, slowing from June as summer leasing momentum faded. Year-over-year growth was 1%, and half of the top 50 markets posted declines — a sharp shift from June when gains were broadly distributed. Phoenix rents were down 1.7% annually, among the weakest large markets, while San Francisco led the nation with 10.9% annual growth.
