Rental Market News
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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
Asking Rents Tick Up 0.6%, With East Coast and Midwest Metros Posting Biggest Increases
The median asking rent rose 0.6% year over year in September to $1,634, but was down 0.2% month over month. Washington, D.C. recorded the biggest
Trump vs Harris: Renters Debate Who Is Better for Housing Affordability
Roughly half of surveyed renters think Kamala Harris would be the best choice to make housing more affordable, while about one-third think Donald Trump would
Newly Built Apartments Are Starting to Fill Up Faster, But At a Slower Pace Than Last Year
54% of U.S. apartments that were completed in the first quarter rented within three months, up from 47% a quarter earlier. Newly-built studio apartments rented
Asking Rents for New Apartments Drop 6% to Lowest Level Since 2022, as Finished Buildings Soar
The asking rent for a new apartment fell to $1,746 in the second quarter, down 6.2% from a year ago. One-bedroom apartments fell the most,
Typical Swing State Renter Earns 17% Less Than Needed to Afford Typical Apartment—But That’s an Improvement From the Last Presidential Election
During the last election cycle, the typical swing state renter household earned 21% less than they needed to afford the median priced apartment. Still, many
Asking Rents Rose the Most in Over a Year in August, But Remain Below Record Highs Hit Two Years Earlier
The median asking rent climbed for the fifth consecutive month, up 0.9% year over year to $1,645. Rents dropped 17.9% in Austin—more than any other
