Reis Inc. reports that nationwide rents increased an average 0.7 percent to $1,062 a month from April through June. The increase is slightly higher than the 0.6 percent increase in the first three months of the year, but far below the 1.3 percent rise experienced in 2012. "The weak labor market and income growth continue to hold rent growth in check," wrote Reis researchers. Meanwhile, the vacancy rate held steady at 4.3 percent for the second quarter, marking the first time since early 2010 that the rate did not decline.
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