The median rent — which is the mid-point of all rents — just rose above $4,000 a month for the first time in May.

The average monthly rent — which is the sum of all rents divided by the number of rents included in the data — was even higher at $5,058 in June. That‘s up nearly 30% from a year ago and marked the first time the average has gone above $5,000 a month.