Rental Market News
Monthly Rental Tracker
U.S. Asking Rents Rise Most Since 2022 As Apartment Construction Slows
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
U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years
The median asking rent rose 1.7% ($30) year over year to $1,790 in July. Shrinking supply may be tilting the balance of power toward landlords.
Redfin Rental Data Methodology
Asking-rent data cover newly listed units in apartment buildings with 25 or more units. The median is calculated based on rolling three-month periods, i.e., the
U.S. Asking Rents Have Declined for 4 Months in a Row, But Are Still Only $63 Below Their Record High
Asking rents fell in over half the major U.S. metros Redfin analyzed in June. In Austin, rents dropped 6% year over year to the lowest
Asking Rents Are Falling in 28 Major U.S. Metros—the Most Since 2023
The median U.S. asking rent dropped 1% year over year to $1,633 in May as elevated apartment supply gave renters room to negotiate. Asking rents
U.S. Asking Rents Fell 1% Year Over Year in April—Biggest Drop in 14 Months
The median asking rent was $1,625, down $80 from the record high, as elevated apartment supply pushed rents lower. Asking rents fell fastest in Austin,
Rental Market Tracker: Asking Rents Rose for the Third-Straight Month in March, Driven By the Midwest
The median U.S. asking rent rose 1% from a year earlier. By comparison, rents jumped 5% in the Midwest—in part because the region hasn’t seen
Rental Market Tracker: Asking Rents Climb 2% in February, Biggest Gain in Over a Year
Rents hit a low point last February—one reason they’re now showing a sizable year-over-year uptick. Another factor driving rents up: the jump in mortgage rates
Rental Market Tracker: U.S. Asking Rents Flatten After Pandemic Rollercoaster Ride
Rents haven’t fluctuated much over the past year, rising 1% in January—a far cry from double-digit growth during the pandemic. Landlords don’t have much room
A Reprieve for Renters: Costs Drop for Third Straight Month in December
Rising supply has led to rising vacancies, motivating landlords to lower asking rents, which fell 1% from a year earlier. Rents dropped in the South
The Tide Turns for Renters as Asking Rents Post Biggest Decline in Over 3 Years
The median U.S. asking rent fell 2% year over year in November—the biggest decline since 2020—as landlords grappled with rising vacancies due to a building
Rental Market Tracker: U.S. Asking Rents Remained Sluggish in October Amid Rising Vacancy Rate
Asking rents were little changed from a year earlier for the seventh-straight month as an increase in new units hitting the market drove up vacancies,
