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 Climb 11% in August, the Smallest Gain in a Year
Rent growth is likely to keep slowing as rising interest rates continue to cool the economy.
Rental Market Tracker: Growth in U.S. Asking Rents Slows for Second-Straight Month
The 12% increase in July was the smallest since September of last year.
Rental Market Tracker: Asking Rents Rise 14% in June, the Smallest Increase Since October
Rent growth is easing as landlords respond to a tightening in tenant budgets brought on by inflation.
Rental Market Tracker: Growth in Asking Rents Slows for the 1st Time in a Year
Rents rose 15% year over year in April, down from March’s 17% increase. Still, Austin, Portland and South Florida saw rents surge more than 30%.
Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March
Rising monthly mortgage payments—up 34% from a year ago, due largely to rising interest rates–are pricing more people out of the homebuying market, which could lead to even more increases in rents.
Rental Market Tracker: Asking Rents Increased 40% Year Over Year in Austin
Nationally, asking rents were up 15% in February, while homebuyer mortgage payments increased twice as fast.
