U.S. apartment rents leapt at the fastest pace since the real estate crisis of 2007. The average apartment rent now stands at nearly $1,180, up from about $1,125 a year ago, a gain of 4.6%. 

The vacancy rate is now down a whopping 45% from its 2009 peak. In some markets like Portland and San Francisco, vacancy is minuscule and rent increases are 2-3x the national average. Full coverage can be found in this Wall Street Journal article.
This is terrific news for landlords. There's not much to reverse this trend either, with new home formation having far exceeded new home construction since the last peak. Mortgage lending also remains tight, with millions of people still shut out.
To take advantage of high rents, please click here for access to unlisted cash flowing real estate. It's possible to get returns in excess of 10% per year now, with opportunity for future rent increases and capital appreciation.
Have the recent increases in real estate prices got you wondering if our market is overvalued? 
According to this excellent analysis, the answer is no. Phoenix real estate is fairly valued, in line with the long-term trend.
The same cannot be said for many other cities in the US, notably San Francisco, New York, and Denver -- each of which are flashing major warning signals.