Millennials are causing apartment rental demand to soar

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• Apartment demand in the second quarter of this year spiked 11% from a year ago.
• That pushed rents up an average 3% nationally to $1,390 per month, according to RealPage, a real estate software and analytics company.
• Despite the increase, a record 82% of renters say renting is more affordable than owning, according to a new survey from Freddie Mac, up from 67% just a year ago.

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