Rental Market News
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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
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
