Rental Market News
All Reports
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 quarter than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. Just over half (52%) of newly constructed apartments completed in the
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, while rising in the South, West and Midwest regions. New apartment completions rose to the highest level in at least 12 years, with the biggest jumps seen in the West
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 rental apartments fell 2.2% year over year to the lowest level since December 2021. Rents dropped across all bedroom counts for the fifth consecutive month. Cleveland recorded the biggest rent
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 bang for their buck thanks to the recent apartment construction boom, which has led to asking rents stabilizing below their pandemic peak. In Memphis, $2,000 is enough for a 1,570-square-foot
More Than 1 in 5 Renters Say Their Entire Paycheck Goes to Rent
22% of U.S. renters say all their regular income goes toward rent payments, according to a recent Redfin-commissioned survey. 19% of renters report they have worked a job they hated to afford rent. Just over one in five (22%) U.S. renters say all of their regular income goes directly to paying their rent, according to
Rents Flat Nationally in October, But Rising in East Coast and Midwest Metros
The median asking rent rose 0.2% year over year in October to $1,619, but was down 0.6% month over month. Rents dropped slightly across all bedroom counts for the third time in four months. The asking price per square foot for rental apartments fell 1.1% year over year, the 18th consecutive month with a decline.
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 quarter than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. Just over half (52%) of newly constructed apartments completed in the
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, while rising in the South, West and Midwest regions. New apartment completions rose to the highest level in at least 12 years, with the biggest jumps seen in the West
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 rental apartments fell 2.2% year over year to the lowest level since December 2021. Rents dropped across all bedroom counts for the fifth consecutive month. Cleveland recorded the biggest rent
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 bang for their buck thanks to the recent apartment construction boom, which has led to asking rents stabilizing below their pandemic peak. In Memphis, $2,000 is enough for a 1,570-square-foot
More Than 1 in 5 Renters Say Their Entire Paycheck Goes to Rent
22% of U.S. renters say all their regular income goes toward rent payments, according to a recent Redfin-commissioned survey. 19% of renters report they have worked a job they hated to afford rent. Just over one in five (22%) U.S. renters say all of their regular income goes directly to paying their rent, according to
Rents Flat Nationally in October, But Rising in East Coast and Midwest Metros
The median asking rent rose 0.2% year over year in October to $1,619, but was down 0.6% month over month. Rents dropped slightly across all bedroom counts for the third time in four months. The asking price per square foot for rental apartments fell 1.1% year over year, the 18th consecutive month with a decline.