Renters are most likely to pay under $1,000 a month in Oklahoma City, New Orleans and Cleveland, and least likely in San Diego, San Jose and Washington, D.C. There are four metros where renters are more likely than they were pre-pandemic to pay under $1,000 a month: Baltimore, New Orleans, New York and Los Angeles.
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 out faster than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. More than half (54%) of newly constructed apartments completed in
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, dropping 9% to $1,566. Asking rents dropped at the same time new apartment completions rose to the highest level in at least 12 years. Asking rents for newly constructed apartments
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 renters feel the rent is “too damn high,” meaning the housing affordability crisis is a key issue for swing state voters deciding this year’s presidential race. Arizona has seen a
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 roommate. That’s down from 31% in 2023, which was considered unaffordable because it was above the 30% affordability threshold. The story is similar in San Francisco and Sacramento. Nationwide, the
HOA dues are up more than 15% from a year ago in Tampa, Orlando and Fort Lauderdale, compared with a median gain of 6% across the 43 metros Redfin analyzed. The Sunshine State is seeing HOA fees jump due to skyrocketing insurance costs and new safety requirements in the wake of the Surfside condo collapse.