48% of apartments built in Q1 were rented within three months, up from 47% in Q4 2024 and 46% in Q3 2024. As the balance of power tilts back toward landlords, asking rents are ticking up. Roughly half (48%) of newly built apartments completed in the first quarter of 2025 were rented within three months, […]
New Apartments Are Increasingly Likely to Get Snapped Up Quickly As Construction Slows Read More »
Asking rents climbed 3% in August as slowing supply and robust demand gave landlords more bargaining power; the number of new apartments hitting the market has dropped 45% since the pandemic building boom. Chicago saw the biggest jump in asking rents (+11%), while only three metros saw declines, led by Austin, TX (-3%). Asking rents
U.S. Asking Rents Rise Most Since 2022 As Apartment Construction Slows Read More »
The median asking rent rose 1.7% ($30) year over year to $1,790 in July. Shrinking supply may be tilting the balance of power toward landlords. Still, asking rents were below their record high and grew at a slower pace than wages. San Jose and Chicago saw the biggest increases in asking rents, while Jacksonville and
U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years Read More »
Asking-rent data cover newly listed units in apartment buildings with 25 or more units. The median is calculated based on rolling three-month periods, i.e., the median asking rent for July 2025 covers rentals that were listed on Redfin.com during the three months ending July 31, 2025. Rental records date back to 2019. Asking rents reflect
Redfin Rental Data Methodology Read More »
Asking rents fell in over half the major U.S. metros Redfin analyzed in June. In Austin, rents dropped 6% year over year to the lowest level since 2021. The median U.S. asking rent fell 0.5% year over year to $1,642 in June, the fourth straight month of annual declines. On a month-over-month basis, asking rents
The median U.S. asking rent dropped 1% year over year to $1,633 in May as elevated apartment supply gave renters room to negotiate. Asking rents fell fastest in Austin, down 9% to the lowest level since 2021. Rents hit a record high in four metros: Chicago, Cincinnati, Memphis and Washington, D.C. The median U.S. asking
Asking Rents Are Falling in 28 Major U.S. Metros—the Most Since 2023 Read More »