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 […]
The Sun Belt Is Seeing Some of the Biggest Rent Declines in America Read More »
The median U.S. asking rent rose 1% from a year earlier. By comparison, rents jumped 5% in the Midwest—in part because the region hasn’t seen as big of a construction boom as other parts of the country. The median U.S. asking rent rose 0.8% year over year to $1,987 in March, marking the third consecutive
Rents hit a low point last February—one reason they’re now showing a sizable year-over-year uptick. Another factor driving rents up: the jump in mortgage rates last month, which buoyed rental demand. The Northeast and Midwest were the biggest gainers, with asking rents rising roughly 5% from a year earlier. Rents in the West and South
Rental Market Tracker: Asking Rents Climb 2% in February, Biggest Gain in Over a Year Read More »
Rents haven’t fluctuated much over the past year, rising 1% in January—a far cry from double-digit growth during the pandemic. Landlords don’t have much room to boost prices as they grapple with rising vacancies and the pandemic housing frenzy moves further into the rearview mirror. The median U.S. asking rent rose 1.1% year over year
Rental Market Tracker: U.S. Asking Rents Flatten After Pandemic Rollercoaster Ride Read More »
Rising supply has led to rising vacancies, motivating landlords to lower asking rents, which fell 1% from a year earlier. Rents dropped in the South and the West, but continued climbing in the Midwest and Northeast. The median U.S. asking rent fell 0.8% year over year in December to $1,964. That’s the third consecutive decline,
A Reprieve for Renters: Costs Drop for Third Straight Month in December Read More »
The median U.S. asking rent fell 2% year over year in November—the biggest decline since 2020—as landlords grappled with rising vacancies due to a building boom in recent years. But rents are still rising in the Midwest, partly because out-of-towners are moving in to get more bang for their buck. The median U.S. asking rent
The Tide Turns for Renters as Asking Rents Post Biggest Decline in Over 3 Years Read More »