Rental Market News
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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.
The Number of Renter Households is Growing Three Times Faster Than Homeowner Households
The number of renter households grew 2.7% in the third quarter, the second biggest year-over-year gain since 2015. The number of homeowner households grew 0.9%. Renter households have formed faster than homeowner households for the past four quarters as the cost of buying a home rose faster than the cost of renting. The national rentership
Roughly One-Third of Renters Have an Apartment That Costs Less Than $1,000 a Month—the Lowest Share on Record
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.
Roughly 4 in 5 U.S. Residents Believe There Should Be Caps on Rent Hikes: Survey
The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they’re Democrats or Republicans, and regardless of whether they own or rent. Redfin economists say rent control worsens housing affordability in the long run. More than four of
Renters Are Nearly Twice as Likely as Homeowners to Say Housing Affordability Impacts Their Pick for President: Survey
32% of surveyed renters say housing affordability is a top-three issue when it comes to deciding which presidential candidate they’ll support. That compares with 17% of homeowners. The economy, inflation and health care are the most common top-three issues for survey respondents as a whole. 52% of surveyed homeowners say they’re better off financially than
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.
The Number of Renter Households is Growing Three Times Faster Than Homeowner Households
The number of renter households grew 2.7% in the third quarter, the second biggest year-over-year gain since 2015. The number of homeowner households grew 0.9%. Renter households have formed faster than homeowner households for the past four quarters as the cost of buying a home rose faster than the cost of renting. The national rentership
Roughly One-Third of Renters Have an Apartment That Costs Less Than $1,000 a Month—the Lowest Share on Record
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.
Roughly 4 in 5 U.S. Residents Believe There Should Be Caps on Rent Hikes: Survey
The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they’re Democrats or Republicans, and regardless of whether they own or rent. Redfin economists say rent control worsens housing affordability in the long run. More than four of
Renters Are Nearly Twice as Likely as Homeowners to Say Housing Affordability Impacts Their Pick for President: Survey
32% of surveyed renters say housing affordability is a top-three issue when it comes to deciding which presidential candidate they’ll support. That compares with 17% of homeowners. The economy, inflation and health care are the most common top-three issues for survey respondents as a whole. 52% of surveyed homeowners say they’re better off financially than
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