Asking rents were little changed from a year earlier for the seventh-straight month as an increase in new units hitting the market drove up vacancies, making it harder for landlords to raise prices. The median U.S. asking rent in October was $1,978, little changed (-0.3%) from a year earlier, but down 3.7% from the $2,054 […]
The median U.S. asking rent was little changed from a year earlier for the sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices. But apartment construction has started to slow, which should ultimately help bolster rents. Asking rents are climbing in the Midwest and Northeast,
Rental Market Tracker: Asking Rents Flattened in September Amid Growing Apartment Supply Read More »
The West is the only region seeing a drop in asking rents, which are coming back down to earth after surging a record 19% last year. The median U.S. asking rent in July was $2,038, just $16 below the record high set in August 2022. While rents are just shy of their all-time high, rent
Rental Market Tracker: Asking Rents Are Inching Closer to Their Record High Read More »
Rent growth has slowed rapidly, but rents remain costly as landlords offer perks like free parking instead of lowering prices to fill vacant units. The good news is that months of cooling rent increases are finally helping bring down inflation in a big way. The U.S. rental market has been slowing for more than a
Rental Market Tracker: The Typical U.S. Asking Rent Is Only $24 Below Its Record High Read More »
Nationwide, rents declined 1% from a year earlier in May—the largest drop since 2020— as a building boom increased supply and economic uncertainty cooled demand. The median U.S. asking rent fell 0.6% year over year to $1,995 in May—the largest annual decline since March 2020, when the coronavirus was declared a pandemic. That compares with
Buying is more affordable than renting in Detroit, Philadelphia, Cleveland and Houston. The largest homeownership premium is in the Bay Area, where it’s twice as expensive to buy than rent. Nationwide, the typical home costs an estimated 25% more per month to own than rent. A drop in mortgage rates would cause the homeownership premium
There Are Only Four Major U.S. Metro Areas Where It’s Cheaper to Buy a Home Than Rent Read More »