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After a cooldown early in the pandemic, rental housing demand has come back aggressively in the second year, reducing vacancy rates and driving up rents. So says Harvard’s Joint Center for Housing Studies (JCHS) recently released annual “America’s Rental Housing 2022” report. The new report finds that rents in 77 of 150 markets analyzed increased by double digits in the third quarter of 2021, compared to a year earlier. And the vacancy rate for all rental units was at only 5.8 percent in the third quarter of 2021.
