Rental Market News
All Reports
The Single-Family Rental Is On the Decline
A record 33% of U.S. rentals are in large multifamily buildings, while 31% are single-family homes—a record low. As recently as 2021, single-family homes made
Typical Retail Worker Earns $37,000 Less Than Needed to Afford Typical Apartment
The typical retail worker earns $34,000 per year, or 52% less than they would need to afford the typical apartment. Rental affordability has improved slightly
New Apartments Are Increasingly Likely to Get Snapped Up Quickly As Construction Slows
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
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. Homeowner Population Stops Growing for First Time in Nearly a Decade
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
Permits to Build U.S. Apartments Have Fallen 23% Since the Pandemic Construction Boom
Developers obtained permits to build 12.8 multifamily housing units for every 10,000 people in the U.S. over the past year—down from an average of 16.7
U.S. Asking Rents Ended 2024 at the Lowest Level in Nearly Three Years
The median asking rent fell 0.3% year over year in December to $1,594, the lowest since March 2022. Austin, TX posted the biggest decline, with
America’s Renters Are Moving Less Than Ever, With a Third Staying in the Same Home for at Least 5 Years
33.6% of U.S. renters have lived in the same home for at least five years, up from 28.4% a decade ago. Baby boomers stay put
New Apartments Fill Up Slower, Returning to Pre-Pandemic Speeds Amid Construction Boom
52% of U.S. apartments were rented within three months, down from 54% a quarter earlier. Newly-built 3+ bedroom apartments rented out faster in the third
Asking Rents for Newly Built Apartments Rise 1.5%, the Biggest Spike in 18 Months
The median asking rent for a new apartment rose 1.5% year over year to $1,802 in the third quarter. Asking rents fell in the Northeast,
Asking Rents Fall 0.7% to Lowest Level Since March 2022
The median asking rent fell 0.7% year over year in November to $1,595, dropping 1.1% month over month. The asking price per square foot for
Renters on a $2,000 Budget Can Afford 70 More Square Feet Than They Could During the Pandemic. That’s Enough for a Small Office.
A renter on a $2,000-a-month budget can afford an 1,103-square-foot apartment, up from 1,029 square feet when rents peaked in 2022. Renters are getting more
