Rental Market News
Monthly Rental Tracker
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 rent increase, while Jacksonville posted the biggest decrease. Rents dropped slightly across all bedroom counts for the second time in three months. The typical U.S. asking rent ticked up 0.6%
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 metro Redfin analyzed. East Coast and Midwest metros saw the steepest increases. Asking rents for 0-1 and 2 bedroom apartments remained flat, while 3+ bedroom apartments fell 1.7%. The median
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, dropping 2.4% year over year. Rents fell in Sun Belt metros, especially in Florida and Texas, where new construction levels have been strong since the pandemic. The median asking rent
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 record drop, too. Florida and Texas built a lot of apartments to meet surging demand during the pandemic, and now property owners are lowering prices as they compete for tenants.
U.S. Asking Rents Ticked Up for Second Straight Month in May, Hitting Highest Level Since 2022
The median asking rent climbed 0.8% year over year to $1,653—just $47 below the record high. Washington, D.C., Cincinnati and Chicago all saw double-digit increases. The median U.S. asking rent rose 0.8% year over year in May to $1,653—the highest level since October 2022. That’s the second consecutive increase (rents climbed 0.9% year over year
The Sun Belt Is Seeing Some of the Biggest Rent Declines in America
Nine of the 10 metros facing the steepest drops in asking rents are in the Sun Belt. The exception is Seattle, where rents fell 7% year over year in April—the biggest decline among the metros Redfin analyzed. Nationwide, the median asking rent rose 1% to $1,648—the first increase in a year. The median asking rent
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 rent increase, while Jacksonville posted the biggest decrease. Rents dropped slightly across all bedroom counts for the second time in three months. The typical U.S. asking rent ticked up 0.6%
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 metro Redfin analyzed. East Coast and Midwest metros saw the steepest increases. Asking rents for 0-1 and 2 bedroom apartments remained flat, while 3+ bedroom apartments fell 1.7%. The median
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, dropping 2.4% year over year. Rents fell in Sun Belt metros, especially in Florida and Texas, where new construction levels have been strong since the pandemic. The median asking rent
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 record drop, too. Florida and Texas built a lot of apartments to meet surging demand during the pandemic, and now property owners are lowering prices as they compete for tenants.
U.S. Asking Rents Ticked Up for Second Straight Month in May, Hitting Highest Level Since 2022
The median asking rent climbed 0.8% year over year to $1,653—just $47 below the record high. Washington, D.C., Cincinnati and Chicago all saw double-digit increases. The median U.S. asking rent rose 0.8% year over year in May to $1,653—the highest level since October 2022. That’s the second consecutive increase (rents climbed 0.9% year over year
The Sun Belt Is Seeing Some of the Biggest Rent Declines in America
Nine of the 10 metros facing the steepest drops in asking rents are in the Sun Belt. The exception is Seattle, where rents fell 7% year over year in April—the biggest decline among the metros Redfin analyzed. Nationwide, the median asking rent rose 1% to $1,648—the first increase in a year. The median asking rent