
Wages Are Growing Faster Than Rents and Mortgage Payments
Wages are up 4.1% year over year, while asking rents are up 2.6% and mortgage-payment growth has slowed to roughly 0% amid declining mortgage rates
As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.

Wages are up 4.1% year over year, while asking rents are up 2.6% and mortgage-payment growth has slowed to roughly 0% amid declining mortgage rates

48% of apartments built in Q1 were rented within three months, up from 47% in Q4 2024 and 46% in Q3 2024. As the balance

Asking rents climbed 3% in August as slowing supply and robust demand gave landlords more bargaining power; the number of new apartments hitting the market

The Black homeownership rate fell to 43.9% in the second quarter, while the Hispanic homeownership rate ticked up slightly. The drop in the Black homeownership

The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of

There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of

Wages are up 4.1% year over year, while asking rents are up 2.6% and mortgage-payment growth has slowed to roughly 0% amid declining mortgage rates

48% of apartments built in Q1 were rented within three months, up from 47% in Q4 2024 and 46% in Q3 2024. As the balance

Asking rents climbed 3% in August as slowing supply and robust demand gave landlords more bargaining power; the number of new apartments hitting the market

The Black homeownership rate fell to 43.9% in the second quarter, while the Hispanic homeownership rate ticked up slightly. The drop in the Black homeownership

The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of

There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of