{"id":78690,"date":"2024-10-10T05:30:28","date_gmt":"2024-10-10T12:30:28","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78690"},"modified":"2024-10-09T17:55:18","modified_gmt":"2024-10-10T00:55:18","slug":"rental-tracker-september-2024","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/rental-tracker-september-2024\/","title":{"rendered":"Asking Rents Tick Up 0.6%, With East Coast and Midwest Metros Posting Biggest Increases"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The median asking rent rose 0.6% year over year in September to $1,634, but was down 0.2% month over month.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Washington, D.C. recorded the biggest rent increase, while Jacksonville posted the biggest decrease.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Rents dropped slightly across all bedroom counts for the second time in three months.<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The typical U.S. asking rent ticked up 0.6% year over year in September to $1,634, with several East Coast and Midwestern metros seeing the biggest increases. Rents were down 0.2% on a month-over-month basis.\u00a0<\/span><\/p>\n<div id=\"viz1728504189823\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;www.redfin.com&#47;'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Re&#47;RentalMarket-Public&#47;RentalMarket&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"RentalMarket-Public\/RentalMarket\" \/><param name=\"tabs\" value=\"yes\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Re\/RentalMarket-Public\/RentalMarket\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1728504189823');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='1344px';vizElement.style.height='750px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='1344px';vizElement.style.height='750px';} else { vizElement.style.width='100%';vizElement.style.height='1350px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<p><span style=\"font-weight: 400;\">The median rent has stayed largely flat for the past two years, ranging between $1,599 and $1,663\u2014including sitting in a tight window between $1,630 and $1,650 for 16 of the past 24 months. In parallel, wages are growing around <\/span><a href=\"https:\/\/fred.stlouisfed.org\/graph\/?g=1ttck\"><span style=\"font-weight: 400;\">4%<\/span><\/a><span style=\"font-weight: 400;\"> year over year, showing that rent is more affordable now than it was two years ago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cRents remain stable nationally, but could look very different depending on where you live in the country,\u201d said Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\"><span style=\"font-weight: 400;\">Sheharyar Bokhari<\/span><\/a><span style=\"font-weight: 400;\">. \u201cOn the East Coast and in the Midwest, there hasn\u2019t been as much building activity, so asking rents are rising. Meanwhile, if you\u2019re in a Sun Belt city where <\/span><a href=\"https:\/\/www.redfin.com\/news\/america-building-fewer-apartments-2024\/\"><span style=\"font-weight: 400;\">construction boomed<\/span><\/a><span style=\"font-weight: 400;\"> following the pandemic, rents are now falling pretty fast.\u201d\u00a0<\/span><\/p>\n<h2><b>Washington, D.C. posts highest rent increase, as rents in Sun Belt metros continue to fall<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Washington, D.C. posted the biggest rent increase of the 50 most-populous metros we analyzed in September, up 12% year over year to $2,088.<\/span><\/p>\n<p><b>Major Metros With Highest Rent Increases<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><strong>Median Asking Rent (Sept)<\/strong><\/td>\n<td><strong>YoY Change<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,088<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,625<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">11.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,350<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,620<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">10.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,768<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">9.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,649<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">8.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,103<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,341<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,299<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Louisville\/Jefferson County, KY<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,260<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">6.4%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Fellow Eastern Seaboard metros Virginia Beach, VA and Baltimore, MD also saw double-digit increases in asking rents, rising 11.3% and 10.6% respectively. Midwest metros Cleveland, OH (+11.1%) and Chicago (+9.1%) rounded out the five major metros where rents rose the most.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sun Belt states dominated the major metros with the biggest rent declines, led by Jacksonville, FL, where the median asking rent fell 11.3% to $1,485. Raleigh, NC (-10.6%), San Diego (-10.4%), Austin, TX (-9.9%) and Tampa, FL (-7.7%) rounded out the five major metros with the biggest drops in asking rents.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><b>Major Metros With Highest Rent Decreases<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td style=\"text-align: center;\"><strong>Median Asking Rent (Sept)<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>YoY Change<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,485<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-11.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Raleigh, NC<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,457<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-10.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,685<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-10.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,503<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-9.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,715<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-7.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,683<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-7.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,394<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-5.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,505<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-5.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,561<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-4.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,385<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-4.4%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><b>Asking rents falling across all bedroom counts<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">For the second time in three months, asking rents fell across all bedroom counts, something that hadn\u2019t happened in more than four years prior to <\/span><a href=\"https:\/\/www.redfin.com\/news\/rental-tracker-july-2024\/\"><span style=\"font-weight: 400;\">July<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Median asking rents for 0-1 bedroom apartments fell 0.2% (to $1,489 a month), 2 bedroom apartments fell 0.1% (to $1,714) and 3+ bedroom apartments fell 1.9% (to $1,995).<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td style=\"text-align: center;\"><b>Median Asking Rent<\/b><\/td>\n<td style=\"text-align: center;\"><b>YoY Change<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0-1 Bedroom Apartments<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,489<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2 Bedroom Apartments<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,714<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">3+ Bedroom Apartments<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,995<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.9%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">The minor discrepancy between the overall median rent (showing a small 0.6% gain) and the three different bedroom counts (which all fell) is the result of a statistical phenomenon known as <\/span><a href=\"https:\/\/www.britannica.com\/topic\/Simpsons-paradox\"><span style=\"font-weight: 400;\">Simpson\u2019s paradox<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><b>Metro-Level Summary: September 2024<\/b><\/h2>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><b>U.S. metro area<\/b><\/td>\n<td style=\"text-align: center;\"><b>Median asking rent<\/b><\/td>\n<td style=\"text-align: center;\"><b>Month-over-month change in median asking rent<\/b><\/td>\n<td style=\"text-align: center;\"><b>Year-over-year change in median asking rent<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,563<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,503<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-9.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,620<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">10.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Birmingham, AL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,349<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,794<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Buffalo, NY<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,370<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,508<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-3.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,768<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.4%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">9.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,341<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.1%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,350<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,459<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">6.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,481<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.0%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-3.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,800<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,405<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">4.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,299<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,396<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.9%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,485<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-11.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,475<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,775<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-3.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Louisville\/Jefferson County, KY<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,260<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">6.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Memphis, TN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,249<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">3.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,385<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-4.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,649<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">8.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,561<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.1%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-4.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">New Orleans, LA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,219<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,892<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-2.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,749<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-3.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,855<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.1%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,505<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-5.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,394<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.4%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-5.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,798<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,103<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">7.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Raleigh, NC<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,457<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-10.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Richmond, VA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,579<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.4%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,325<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">2.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,040<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">1.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Salt Lake City, UT<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,499<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,685<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-10.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,683<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-7.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$3,269<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,049<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.8%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-3.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,246<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.0%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,715<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-1.4%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-7.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$1,625<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">11.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">$2,088<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><strong>National<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>$1,634<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>-0.2%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>0.6%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><b>Methodology<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Median asking rent figures in this report cover newly listed units in apartment buildings with five or more units. The median is calculated based on a rolling three-month period, i.e., the median asking rent for September 2024 covers rentals that were listed on Rent.com and Redfin.com during the three months ending September 30, 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Starting this month, metro-level data in this report covers 45 of the 50 most populous U.S. core-based statistical areas (CBSAs)\u2014those for which Rent. and Redfin have sufficient rental data. The national figures are based on data for the entire U.S.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Asking rents reflect the current costs of new leases during each time period. In other words, the amount shown as the median asking rent is not the median of what all renters are paying, but the median asking price of apartments that were available for new renters during the report period.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The median asking rent rose 0.6% year over year in September to $1,634, but was down 0.2% month over month. Washington, D.C. recorded the biggest rent increase, while Jacksonville posted the biggest decrease. Rents dropped slightly across all bedroom counts for the second time in three months. The typical U.S. asking rent ticked up 0.6% [&hellip;]<\/p>\n","protected":false},"author":13568,"featured_media":78691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","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":[694,563],"tags":[20,623,562,88],"dashboard":[],"coauthors":[682],"class_list":["post-78690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-monthly-rental-tracker","category-rental-market","tag-housing-affordability","tag-national","tag-rental-report","tag-renting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rents Up 0.6% as East Coast and Midwest Metros Post Increases<\/title>\n<meta name=\"description\" content=\"The typical U.S. asking rent ticked up 0.6% year over year in September to $1,634, with several East Coast and Midwestern metros seeing the biggest increases. 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