Rental Market News
All Reports
U.S. Asking Rents Rose 0.4% in February—A Small Increase, But the First in 6 Months
Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units.
D.C. Rents Up 2.7% in February Following 3 Months of Declines; Too Soon to Tell if Whether Federal Job Cuts Will Affect the Market
The median rent in the District of Columbia rose 2.7% year over year in February, following three months of declines. Rents have been falling most
A Minimum-Wage Worker Would Have to Work 106 Hours a Week to Afford the Typical U.S. Apartment
That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to
Austin Asking Rents Drop 16% in January—More Than Any Other Major Metro—And Are Now $400 Below Their Record High
Nationwide, the median asking rent was little changed from a year earlier, down 0.1% to $1,599. But rents may inch up if demand outstrips supply
Downtown Seattle Rents Rise for the First Time in 17 Months as Amazon Workers Go Back to the Office Full Time
The median asking rent for an apartment in downtown Seattle grew 2.5% year over year in December to $2,000—the first rise in 17 months. Seattle
Renters Need to Earn $63,680 to Afford the Typical U.S. Apartment—the Lowest Amount in 3 Years
Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment—the lowest income required since early 2022. Texas metros Austin, Houston
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
New Apartments Are Sitting Vacant for Months, Giving Renters Power to Negotiate Concessions
49% of newly built apartments completed in the fourth quarter of 2024 were rented within three months—the fifth consecutive quarter with an absorption rate below
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,
