Rental Market News
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The Typical College Grad in the Bay Area Can Afford Rent If They Have a Roommate. A Year Ago, They Couldn’t.
In San Jose, the typical recent grad would need to spend 28% of their income to rent the median priced 2 bedroom apartment with a
The Typical Teacher Can Afford 48% of Apartments Near Their School—Up From 41% Last Year. But They Can Afford Just 14% of Homes for Sale
Rental affordability has improved thanks to flattening rents and a modest increase in teacher pay. In Portland, OR, the typical teacher can afford 91% of
Asking Rents Fall Across All Bedroom Counts for First Time in 4 Years
The nationwide median asking rent was $1,647 in July, down $53 from the all-time high in 2022. Rents for 3+ bedroom apartments fell the fastest,
Renter Nation: America’s Renter Population Is Growing Three Times Faster Than Its Homeowner Population Amid Rise in Homebuying Costs
The number of renter households grew 1.9% in the second quarter—one of the biggest gains in recent years. The number of homeowner households rose 0.6%—the
Rent Prices Are Dropping Across Florida’s Most Populous Metros
Asking rents fell a record 12% year over year in Jacksonville last month, and also declined in Tampa, Orlando and Miami. Austin, TX posted a
Permits to Build U.S. Apartments Have Dropped Nearly 30% Since the Pandemic
Builders obtained permits to construct 13 multifamily units per 10,000 people this year, down from an average of 18 in 2021-2023. They’ve pumped the brakes
Permits to Build U.S. Apartments Drop Below Pre-Pandemic Levels
Developers obtained permits to build 12.4 multifamily housing units for every 10,000 people in the U.S. over the past year—down 27.1% from the pandemic building
U.S. Asking Rents Fell Slightly in March, But Tariffs Could Drive Up Costs for Renters
The median asking rent dropped 0.6% year over year to $1,610, the 13th-straight month in which rents have been fairly stable. New tariffs could increase
Homebuyers Need to Earn Over $50,000 More Than Renters to Afford Monthly Payments—And the Gap Is Widening
Americans need an annual income of $117,000 to afford the typical home for sale. That’s 82% more than they need for the typical rental, up
America’s Renter Population Grew 1% in the Fourth Quarter
New York and Los Angeles are the only metro areas where the majority of households rent. Renting is least common in Cape Coral, FL and
The Rise of the Rich Renter
Affluent renters have become more common in 35 of the 50 most populous U.S. metros since 2019, with Raleigh and Orlando seeing the biggest upticks.
New Apartments Are Filling Up at Nearly the Slowest Pace on Record, But That May Change as Builders Pull Back
Just 47% of newly-built apartments completed in Q3 were rented within three months as a record number of new apartments hit the market. But construction
