{"id":74198,"date":"2022-04-20T05:00:52","date_gmt":"2022-04-20T12:00:52","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=74198"},"modified":"2024-10-03T16:00:29","modified_gmt":"2024-10-03T23:00:29","slug":"redfin-rental-report-march-2022","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/","title":{"rendered":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March"},"content":{"rendered":"

Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates–are pricing more people out of the homebuying market, which could lead to even more increases in rents.<\/h2>\n

The median monthly asking rent in the U.S. increased 17% year over year to a record high of $1,940 in March, the largest annual jump since at least February 2020 (Redfin\u2019s rental data goes back through February 2019). Meanwhile, the national median monthly mortgage payment for homebuyers rose twice as fast: It climbed 34% year over year to $1,910, also the biggest increase in Redfin\u2019s records.<\/p>\n

The increase in monthly mortgage payments is largely because mortgage rates climbed from under 3% to 5% in just the past three months, pushing many potential buyers out of the for-sale market and increasing demand\u2014and prices\u2014for rentals. Even though homebuyer monthly payments are rising rapidly, asking rents were still slightly higher as of March\u2014but the gap is closing quickly and is the smallest on record in Redfin\u2019s rental data.<\/p>\n

Although the home purchase market is showing early signs of a cooldown and price growth may slow in the coming months, Redfin economists do not currently expect sale prices or mortgage rates to drop.<\/p>\n

\u201cMany potential first-time homebuyers are quickly being priced out of the market by record-high home prices and fast-increasing mortgage rates,\u201d said Redfin Chief Economist Daryl Fairweather<\/a>. \u201cThey are then faced with two options: rent or move somewhere with a lower cost of living. Those who choose to rent may save money in expensive housing markets in the near term, but long term, they may have to deal with continued rent increases, year after year. Those who move and buy somewhere more affordable now will be paying considerably more than if they bought last year, but will be able to build equity in the long run and ensure relatively stable monthly housing costs going forward.\u201d<\/p>\n\n\n\n\n\n\n
Rental Market Summary<\/th>\nMarch 2021<\/th>\nMonth-Over-Month<\/th>\nYear-Over-Year<\/th>\n<\/tr>\n<\/thead>\n
Median Monthly Rent<\/td>\n$1,940<\/td>\n2.1%<\/td>\n16.7%<\/td>\n<\/tr>\n
Median Monthly Mortgage Payment for Homebuyers w\/ 5% down payment<\/td>\n$1,910<\/td>\n11.6%<\/td>\n34.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"\"<\/p>\n

Mortgage payment increases outpaced asking rent increases in 44 of the 50 largest U.S. metro areas in March.<\/p>\n

\"\"<\/p>\n

Asking Rents Are Up 40% In Portland, OR<\/h3>\n

Rent increases hit 40% year over year in Portland, OR<\/a>, with Austin, TX<\/a> not far behind at 38%. The Tri-State Area and many parts of Florida also saw rental increases of 30% or more.<\/p>\n

Top 10 Metro Areas With Fastest-Rising Rents Year Over Year<\/h3>\n
    \n
  1. Portland, OR<\/a> (+40%)<\/li>\n
  2. Austin, TX<\/a> (+38%)<\/li>\n
  3. New York, NY<\/a> (+35%)<\/li>\n
  4. New Brunswick, NJ<\/a> (+35%)<\/li>\n
  5. Newark, NJ<\/a> (+35%)<\/li>\n
  6. Nassau County, NY<\/a> (+35%)<\/li>\n
  7. Fort Lauderdale, FL<\/a> (+33%)<\/li>\n
  8. Miami, FL<\/a> (+33%)<\/li>\n
  9. West Palm Beach, FL<\/a> (+33%)<\/li>\n
  10. Orlando, FL<\/a> (+30%)<\/li>\n<\/ol>\n

    Just two of the 50 most-populous metro areas saw rents fall in March from a year earlier. Rents declined 10% in Milwaukee<\/a> and 1% in Kansas City, MO<\/a>.<\/p>\n

    Metro Areas Where Rents Declined Year Over Year<\/h3>\n
      \n
    1. Milwaukee, WI<\/a> (-10%)<\/li>\n
    2. Kansas City, MO<\/a> (-1.1%)<\/li>\n<\/ol>\n

      Median Asking Rents and Median Monthly Mortgage Payments for Homebuyers, March 2022<\/h3>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
      U.S. Metro Area<\/th>Median Asking Rent<\/th>Year-Over-Year Change in Median Asking Rent<\/th>Median Monthly Mortgage (5% Down)<\/th>Year-Over-Year Change in Median Monthly Mortgage (5% Down)<\/th>Difference Between Year-Over-Year Change in Median Monthly Mortgage & Median Asking Rent<\/th>\n<\/tr>\n<\/thead>\n
      Anaheim, CA<\/a><\/td>$3,340<\/td>11.0%<\/td>$4,814<\/td>39.8%<\/td>29 pp<\/td>\n<\/tr>\n
      Atlanta, GA<\/a><\/td>$2,095<\/td>21.5%<\/td>$1,703<\/td>39.3%<\/td>18 pp<\/td>\n<\/tr>\n
      Austin, TX<\/a><\/td>$2,349<\/td>38.1%<\/td>$2,430<\/td>40.6%<\/td>3 pp<\/td>\n<\/tr>\n
      Baltimore, MD<\/a><\/td>$2,025<\/td>9.2%<\/td>$1,551<\/td>21.7%<\/td>12 pp<\/td>\n<\/tr>\n
      Boston, MA<\/a><\/td>$3,672<\/td>17.1%<\/td>$2,963<\/td>27.0%<\/td>10 pp<\/td>\n<\/tr>\n
      Charlotte, NC<\/a><\/td>$1,741<\/td>9.2%<\/td>$1,756<\/td>39.1%<\/td>30 pp<\/td>\n<\/tr>\n
      Chicago, IL<\/a><\/td>$2,395<\/td>7.4%<\/td>$1,435<\/td>18.2%<\/td>11 pp<\/td>\n<\/tr>\n
      Cincinnati, OH<\/a><\/td>$1,609<\/td>29.1%<\/td>$1,148<\/td>27.2%<\/td>-2 pp<\/td>\n<\/tr>\n
      Cleveland, OH<\/a><\/td>$1,329<\/td>0.6%<\/td>$880<\/td>30.4%<\/td>30 pp<\/td>\n<\/tr>\n
      Columbus, OH<\/a><\/td>$1,490<\/td>7.7%<\/td>$1,349<\/td>30.8%<\/td>23 pp<\/td>\n<\/tr>\n
      Dallas, TX<\/a><\/td>$2,090<\/td>21.7%<\/td>$1,944<\/td>39.5%<\/td>18 pp<\/td>\n<\/tr>\n
      Denver, CO<\/a><\/td>$2,607<\/td>20.7%<\/td>$2,780<\/td>38.7%<\/td>18 pp<\/td>\n<\/tr>\n
      Detroit, MI<\/a><\/td>$1,606<\/td>8.2%<\/td>$768<\/td>21.3%<\/td>13 pp<\/td>\n<\/tr>\n
      Fort Lauderdale, FL<\/a><\/td>$3,036<\/td>33.2%<\/td>$1,713<\/td>31.7%<\/td>-1 pp<\/td>\n<\/tr>\n
      Fort Worth, TX<\/a><\/td>$2,090<\/td>21.7%<\/td>$1,629<\/td>40.3%<\/td>19 pp<\/td>\n<\/tr>\n
      Houston, TX<\/a><\/td>$1,734<\/td>11.2%<\/td>$1,528<\/td>30.8%<\/td>20 pp<\/td>\n<\/tr>\n
      Indianapolis, IN<\/a><\/td>$1,393<\/td>15.0%<\/td>$1,204<\/td>32.2%<\/td>17 pp<\/td>\n<\/tr>\n
      Jacksonville, FL<\/a><\/td>$1,618<\/td>23.3%<\/td>$1,620<\/td>43.0%<\/td>20 pp<\/td>\n<\/tr>\n
      Kansas City, MO<\/a><\/td>$1,441<\/td>-1.1%<\/td>$1,342<\/td>26.6%<\/td>28 pp<\/td>\n<\/tr>\n
      Las Vegas, NV<\/a><\/td>$1,805<\/td>20.7%<\/td>$1,990<\/td>45.6%<\/td>25 pp<\/td>\n<\/tr>\n
      Los Angeles, CA<\/a><\/td>$3,340<\/td>11.0%<\/td>$4,039<\/td>28.8%<\/td>18 pp<\/td>\n<\/tr>\n
      Miami, FL<\/a><\/td>$3,036<\/td>33.2%<\/td>$2,157<\/td>37.0%<\/td>4 pp<\/td>\n<\/tr>\n
      Milwaukee, WI<\/a><\/td>$1,657<\/td>-9.6%<\/td>$1,184<\/td>20.4%<\/td>30 pp<\/td>\n<\/tr>\n
      Minneapolis, MN<\/a><\/td>$1,782<\/td>0.7%<\/td>$1,643<\/td>23.1%<\/td>22 pp<\/td>\n<\/tr>\n
      Montgomery County, PA<\/a><\/td>$2,290<\/td>11.3%<\/td>$1,852<\/td>23.7%<\/td>12 pp<\/td>\n<\/tr>\n
      Nashville, TN<\/a><\/td>$1,968<\/td>20.1%<\/td>$1,990<\/td>41.8%<\/td>22 pp<\/td>\n<\/tr>\n
      Nassau County, NY<\/a><\/td>$3,870<\/td>35.1%<\/td>$2,773<\/td>28.3%<\/td>-7 pp<\/td>\n<\/tr>\n
      New Brunswick, NJ<\/a><\/td>$3,870<\/td>35.1%<\/td>$1,967<\/td>24.7%<\/td>-10 pp<\/td>\n<\/tr>\n
      New York, NY<\/a><\/td>$3,870<\/td>35.1%<\/td>$3,137<\/td>23.2%<\/td>-12 pp<\/td>\n<\/tr>\n
      Newark, NJ<\/a><\/td>$3,870<\/td>35.1%<\/td>$2,176<\/td>26.5%<\/td>-9 pp<\/td>\n<\/tr>\n
      Oakland, CA<\/a><\/td>$3,584<\/td>14.6%<\/td>$4,536<\/td>26.0%<\/td>11 pp<\/td>\n<\/tr>\n
      Orlando, FL<\/a><\/td>$2,087<\/td>30.0%<\/td>$1,745<\/td>43.8%<\/td>14 pp<\/td>\n<\/tr>\n
      Philadelphia, PA<\/a><\/td>$2,290<\/td>11.3%<\/td>$1,227<\/td>17.1%<\/td>6 pp<\/td>\n<\/tr>\n
      Phoenix, AZ<\/a><\/td>$2,125<\/td>22.3%<\/td>$2,176<\/td>45.7%<\/td>23 pp<\/td>\n<\/tr>\n
      Pittsburgh, PA<\/a><\/td>$1,830<\/td>15.8%<\/td>$988<\/td>16.3%<\/td>0 pp<\/td>\n<\/tr>\n
      Portland, OR<\/a><\/td>$2,472<\/td>39.7%<\/td>$2,546<\/td>31.8%<\/td>-8 pp<\/td>\n<\/tr>\n
      Providence, RI<\/a><\/td>$2,259<\/td>8.3%<\/td>$1,782<\/td>29.9%<\/td>22 pp<\/td>\n<\/tr>\n
      Riverside, CA<\/a><\/td>$2,627<\/td>12.6%<\/td>$2,592<\/td>36.3%<\/td>24 pp<\/td>\n<\/tr>\n
      Sacramento, CA<\/a><\/td>$2,700<\/td>14.8%<\/td>$2,824<\/td>34.2%<\/td>19 pp<\/td>\n<\/tr>\n
      San Antonio, TX<\/a><\/td>$1,451<\/td>15.3%<\/td>$1,481<\/td>38.1%<\/td>23 pp<\/td>\n<\/tr>\n
      San Diego, CA<\/a><\/td>$3,327<\/td>24.6%<\/td>$3,935<\/td>38.9%<\/td>14 pp<\/td>\n<\/tr>\n
      San Francisco, CA<\/a><\/td>$3,584<\/td>14.6%<\/td>$7,314<\/td>26.4%<\/td>12 pp<\/td>\n<\/tr>\n
      San Jose, CA<\/a><\/td>$3,475<\/td>14.0%<\/td>$7,221<\/td>34.7%<\/td>21 pp<\/td>\n<\/tr>\n
      Seattle, WA<\/a><\/td>$2,813<\/td>28.9%<\/td>$3,796<\/td>34.2%<\/td>5 pp<\/td>\n<\/tr>\n
      St. Louis, MO<\/a><\/td>$1,485<\/td>2.8%<\/td>$1,042<\/td>21.7%<\/td>19 pp<\/td>\n<\/tr>\n
      Tampa, FL<\/a><\/td>$2,138<\/td>25.7%<\/td>$1,684<\/td>47.8%<\/td>22 pp<\/td>\n<\/tr>\n
      Virginia Beach, VA<\/a><\/td>$1,693<\/td>17.7%<\/td>$1,370<\/td>27.3%<\/td>10 pp<\/td>\n<\/tr>\n
      Warren, MI<\/a><\/td>$1,606<\/td>8.2%<\/td>$1,213<\/td>22.6%<\/td>14 pp<\/td>\n<\/tr>\n
      Washington, D.C.<\/a><\/td>$2,595<\/td>11.9%<\/td>$2,430<\/td>25.1%<\/td>13 pp<\/td>\n<\/tr>\n
      West Palm Beach, FL<\/a><\/td>$3,036<\/td>33.2%<\/td>$1,928<\/td>38.1%<\/td>5 pp<\/td>\n<\/tr>\n
      National<\/strong><\/td>$1,940<\/strong><\/td>16.6%<\/strong><\/td>$1,910<\/strong><\/td>34.2%<\/strong><\/td>18 pp<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

      Note: Previous editions of this report incorrectly referred to the asking rent statistic as the average, when it was in fact the median.<\/em><\/p>\n

      \n

      Methodology<\/h3>\n

      Redfin’s rent-versus-own analysis uses data from more than 20,000 apartment buildings across the US. The report combines rental data on all sizes of apartments for rent with home sales data on all residential home sales (single-family, townhouse and condos) from public records and the multiple listing service (MLS). When this report refers to the median mortgage payment for new homebuyers, it is based on a 5% down payment, the median sale price during the month and the average mortgage interest rate for the month. The report uses a 5% down payment in order to be comparable to what an average renter may be able to reasonably achieve in savings.<\/p>\n

      Redfin analyzed home sales data from the MLS, and public records and rent prices from RentPath, across the 50 largest metro areas in the US. Monthly rental prices in this report are not directly comparable to monthly homebuyer mortgage payments, since the mix of homes available to rent and the mix of homes being purchased differ in location, size and quality of home within each metro area. For example, most of the homes being purchased may be in the less expensive suburbs of the metropolitan area, while the apartments being rented may be closer to the more expensive city core.<\/p>\n

      It is also important to note that the prices in this report reflect the current costs of new leases and new mortgages during each time period. In other words, the amount shown as the average rent is not the average of what all renters are paying, but the average cost of apartments that were available for new renters during the report month. Likewise, the median monthly mortgage payment shown is only for homes that sold during the report month, not for all homeowners.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates–are pricing more people out of the homebuying market, which could lead to even more increases in rents.<\/p>\n","protected":false},"author":13505,"featured_media":74201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,694,563],"tags":[562],"dashboard":[],"coauthors":[62],"class_list":["post-74198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-monthly-rental-tracker","category-rental-market","tag-rental-report"],"acf":[],"yoast_head":"\nRental Market Tracker: Asking Rents Climbed 17% to a Record High in March<\/title>\n<meta name=\"description\" content=\"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March\" \/>\n<meta property=\"og:description\" content=\"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-20T12:00:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-03T23:00:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1677\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tim Ellis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim Ellis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/\"},\"author\":{\"name\":\"Tim Ellis\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/18d447d70adabf376e05ea45cfb78a2e\"},\"headline\":\"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March\",\"datePublished\":\"2022-04-20T12:00:52+00:00\",\"dateModified\":\"2024-10-03T23:00:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/\"},\"wordCount\":800,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg\",\"keywords\":[\"Rental Report\"],\"articleSection\":[\"Housing Market News\",\"Monthly Rental Tracker\",\"Rental Market\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/\",\"name\":\"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg\",\"datePublished\":\"2022-04-20T12:00:52+00:00\",\"dateModified\":\"2024-10-03T23:00:29+00:00\",\"description\":\"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg\",\"width\":1832,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/redfin-rental-report-march-2022\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/18d447d70adabf376e05ea45cfb78a2e\",\"name\":\"Tim Ellis\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g49809922b909433f6e289ea162e9f986\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g\",\"caption\":\"Tim Ellis\"},\"description\":\"Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the \\\"Dispatches from the Multiverse\\\" improvised comedy sci-fi podcast.\",\"sameAs\":[\"https:\\\/\\\/ellis.fyi\"],\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/tim-ellisredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March","description":"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/","og_locale":"en_US","og_type":"article","og_title":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March","og_description":"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026","og_url":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2022-04-20T12:00:52+00:00","article_modified_time":"2024-10-03T23:00:29+00:00","og_image":[{"width":2560,"height":1677,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg","type":"image\/jpeg"}],"author":"Tim Ellis","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Tim Ellis","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/"},"author":{"name":"Tim Ellis","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/18d447d70adabf376e05ea45cfb78a2e"},"headline":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March","datePublished":"2022-04-20T12:00:52+00:00","dateModified":"2024-10-03T23:00:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/"},"wordCount":800,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg","keywords":["Rental Report"],"articleSection":["Housing Market News","Monthly Rental Tracker","Rental Market"],"inLanguage":"en-US","copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/","url":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/","name":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg","datePublished":"2022-04-20T12:00:52+00:00","dateModified":"2024-10-03T23:00:29+00:00","description":"Rising monthly mortgage payments\u2014up 34% from a year ago, due largely to rising interest rates--are pricing more people out of the homebuying market\u2026","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/04\/victor-he-llwSSDxTMPk-unsplash-scaled.jpg","width":1832,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/redfin-rental-report-march-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Rental Market Tracker: Asking Rents Climbed 17% to a Record High in March"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/18d447d70adabf376e05ea45cfb78a2e","name":"Tim Ellis","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g49809922b909433f6e289ea162e9f986","url":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g","caption":"Tim Ellis"},"description":"Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the \"Dispatches from the Multiverse\" improvised comedy sci-fi podcast.","sameAs":["https:\/\/ellis.fyi"],"url":"https:\/\/www.redfin.com\/news\/author\/tim-ellisredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/74198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13505"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=74198"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/74198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/74201"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=74198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=74198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=74198"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=74198"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=74198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}