{"id":79267,"date":"2025-02-10T05:00:52","date_gmt":"2025-02-10T13:00:52","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79267"},"modified":"2025-02-07T15:26:12","modified_gmt":"2025-02-07T23:26:12","slug":"rental-tracker-january-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/rental-tracker-january-2025\/","title":{"rendered":"Austin Asking Rents Drop 16% in January\u2014More Than Any Other Major Metro\u2014And Are Now $400 Below Their Record High"},"content":{"rendered":"<p><strong><i>Nationwide, the median asking rent was little changed from a year earlier, down 0.1% to $1,599. But rents may inch up if demand outstrips supply in a big way, which is feasible because apartment construction is slowing and high homebuying costs are fueling renter demand.<\/i><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The median U.S. asking rent was $1,599 in January, little changed (-0.1%) from a year earlier and up 0.5% from a month earlier.<img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-large wp-image-79273\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-07-at-3.07.52\u202fPM-1024x474.png\" alt=\"\" width=\"1024\" height=\"474\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-07-at-3.07.52\u202fPM-1024x474.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-07-at-3.07.52\u202fPM-300x139.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-07-at-3.07.52\u202fPM-768x355.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-07-at-3.07.52\u202fPM.png 1208w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/span><\/p>\n<div id=\"viz1738960401227\" 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;XN&#47;XN6GTFNR6&#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=\"path\" value=\"shared\/XN6GTFNR6\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/XN\/XN6GTFNR6\/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=\"tabs\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><span style=\"font-weight: 400;\">The median asking rent per square foot fell 1.5% year over year to $1.80 and rose 0.8% month over month.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rents are stabilizing because the number of available apartments is in sync with the number of people who want to rent those apartments. Asking rents skyrocketed during the pandemic moving frenzy because there weren\u2019t enough apartments to go around, then dipped in 2023 and early 2024 because builders ramped up construction to meet newfound demand. Now, the number of new apartments hitting the market is <\/span><a href=\"https:\/\/fred.stlouisfed.org\/graph\/?g=1DprR\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tapering<\/span><\/a><span style=\"font-weight: 400;\"> off, and demand, while strong, isn\u2019t going gangbusters like it was during the pandemic.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cRental supply and demand are in lockstep, which is keeping rent growth at bay, but that may not last long,\u201d said Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Sheharyar Bokhari<\/span><\/a><span style=\"font-weight: 400;\">. \u201cApartment construction could be further hampered by new <\/span><a href=\"https:\/\/www.cnbc.com\/2025\/02\/03\/trump-tariffs-news-construction-and-home-costs-could-rise.html#:~:text=%22Tariffs%20on%20lumber%20and%20other,form%20of%20higher%20home%20prices.%22\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tariffs<\/span><\/a><span style=\"font-weight: 400;\"> on building materials. At the same time, demand for apartments continues to grow as high mortgage rates and housing prices push homeownership out of reach for many Americans. Rents will tick up if demand starts to outpace supply in a meaningful way.\u201d<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-ThclO\" style=\"border: none;\" title=\"U.S. Apartment Construction Starts to Slow\" src=\"https:\/\/datawrapper.dwcdn.net\/ThclO\/1\/\" width=\"600\" height=\"421\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><\/p>\n<h3>In Austin, asking rents are now $400 below their all-time high<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nIn Austin, TX, the median asking rent dropped 16% year over year in January to $1,399\u2014the largest decline among the 44 major U.S. metropolitan areas Redfin analyzed. It\u2019s now 22.2% ($400) below its $1,799 August 2023 record high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tampa, FL was home to the second largest decline (-8.2%), followed by Salt Lake City (-6.5%), Jacksonville, FL (-6.4%) and New York (-5%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Asking rents are falling quickly in parts of Texas and Florida because those states have been building more housing than other states. Florida has also been grappling with intensifying natural disasters, which has made some people hesitant to live there.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rents rose most in Cincinnati (15%), Providence, RI (13.4%), Louisville, KY (10.5%), Baltimore (10.2%) and Washington, D.C. (8.8%).<\/span><\/p>\n<h3>Asking rents are down across all apartment types, with 3+ bedrooms seeing the biggest drop<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nAsking rents fell across all bedroom counts for the seventh consecutive month in January.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The median asking rent for 3+ bedroom apartments dropped 1.7% year over year to $1,966. For 0-1 bedroom apartments, it fell 0.6% to $1,458, and for 2 bedroom apartments, it declined 0.4% to $1,674.<\/span><\/p>\n<div id=\"viz1738960495696\" 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<h3>In Los Angeles, asking rents rise for 3+ bedroom apartments amid wildfires<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nThere have been <\/span><a href=\"https:\/\/www.washingtonpost.com\/business\/2025\/01\/25\/la-county-rent-gouging-wildfires\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">news reports<\/span><\/a><span style=\"font-weight: 400;\"> of rental price <\/span><a href=\"https:\/\/www.redfin.com\/blog\/los-angeles-fires-price-gouging\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">gouging<\/span><\/a><span style=\"font-weight: 400;\"> in the wake of the Los Angeles wildfires amid a surge in rental demand from displaced families. Overall, the median asking rent in the Los Angeles metro area was flat from a year earlier in January, at $2,780. The median asking rent for 3+ bedroom Los Angeles apartments, however, did tick up. It rose 3.9% year over year\u2014the biggest increase since November 2023\u2014to $3,950. Though it&#8217;s worth noting that 3+ bedroom rents in Los Angeles were already starting to inch up prior to the fires. By comparison, asking rents for 0-1 bedroom Los Angeles apartments rose 0.6% year over year to $2,489, and asking rents for 2 bedroom apartments rose 0.8% to $3,175.<\/span><\/p>\n<div id=\"viz1738960560792\" 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;BP&#47;BPK37ZNHS&#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=\"path\" value=\"shared\/BPK37ZNHS\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/BP\/BPK37ZNHS\/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=\"tabs\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><span style=\"font-weight: 400;\">Los Angeles has the third highest overall <\/span><span style=\"font-weight: 400;\">median<\/span><span style=\"font-weight: 400;\"> asking rent in the country, meaning many renters still have a hard time finding affordable apartments even though rents aren&#8217;t much different than they were a year ago.<\/span><\/p>\n<h3>Metro-Level Summary: January 2025<\/h3>\n\n<table id=\"tablepress-431\" class=\"tablepress tablepress-id-431\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>U.S. metro area<\/strong><\/th><th class=\"column-2\"><strong>Median asking rent<\/strong><\/th><th class=\"column-3\"><strong>YoY change in median asking rent<\/strong><\/th><th class=\"column-4\"><strong>MoM change in median asking rent<\/strong><\/th><th class=\"column-5\"><strong>Median asking rent per square foot<\/strong><\/th><th class=\"column-6\"><strong>YoY change in median asking rent per square foot<\/strong><\/th><th class=\"column-7\"><strong>MoM change in median asking rent per square foot<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Atlanta, GA<\/td><td class=\"column-2\">$1,526 <\/td><td class=\"column-3\">1.7%<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">$1.56 <\/td><td class=\"column-6\">-0.9%<\/td><td class=\"column-7\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">$1,399 <\/td><td class=\"column-3\">-16.0%<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">$1.62 <\/td><td class=\"column-6\">-16.9%<\/td><td class=\"column-7\">2.0%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">$1,600 <\/td><td class=\"column-3\">10.2%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$1.73 <\/td><td class=\"column-6\">6.9%<\/td><td class=\"column-7\">0.9%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Birmingham, AL<\/td><td class=\"column-2\">$1,353 <\/td><td class=\"column-3\">1.0%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.31 <\/td><td class=\"column-6\">0.9%<\/td><td class=\"column-7\">-0.9%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">$2,693 <\/td><td class=\"column-3\">7.0%<\/td><td class=\"column-4\">1.7%<\/td><td class=\"column-5\">$3.09 <\/td><td class=\"column-6\">0.6%<\/td><td class=\"column-7\">1.5%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Buffalo, NY<\/td><td class=\"column-2\">$1,285 <\/td><td class=\"column-3\">5.3%<\/td><td class=\"column-4\">-1.9%<\/td><td class=\"column-5\">$1.67 <\/td><td class=\"column-6\">2.3%<\/td><td class=\"column-7\">-0.6%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">$1,480 <\/td><td class=\"column-3\">0.3%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.57 <\/td><td class=\"column-6\">-1.1%<\/td><td class=\"column-7\">0.7%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">$1,707 <\/td><td class=\"column-3\">7.0%<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">$2.17 <\/td><td class=\"column-6\">4.8%<\/td><td class=\"column-7\">2.1%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">$1,420 <\/td><td class=\"column-3\">15.0%<\/td><td class=\"column-4\">4.4%<\/td><td class=\"column-5\">$1.56 <\/td><td class=\"column-6\">7.3%<\/td><td class=\"column-7\">1.1%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">$1,290 <\/td><td class=\"column-3\">8.4%<\/td><td class=\"column-4\">0.8%<\/td><td class=\"column-5\">$1.45 <\/td><td class=\"column-6\">5.3%<\/td><td class=\"column-7\">2.3%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">$1,395 <\/td><td class=\"column-3\">4.8%<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">$1.54 <\/td><td class=\"column-6\">9.0%<\/td><td class=\"column-7\">-0.8%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">$1,464 <\/td><td class=\"column-3\">-3.6%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.75 <\/td><td class=\"column-6\">-1.1%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">$1,685 <\/td><td class=\"column-3\">-2.6%<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">$2.07 <\/td><td class=\"column-6\">-5.9%<\/td><td class=\"column-7\">-0.3%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">$1,330 <\/td><td class=\"column-3\">0.4%<\/td><td class=\"column-4\">-1.2%<\/td><td class=\"column-5\">$1.52 <\/td><td class=\"column-6\">3.8%<\/td><td class=\"column-7\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">$1,235 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$1.43 <\/td><td class=\"column-6\">-4.9%<\/td><td class=\"column-7\">0.7%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">$1,375 <\/td><td class=\"column-3\">3.5%<\/td><td class=\"column-4\">1.6%<\/td><td class=\"column-5\">$1.52 <\/td><td class=\"column-6\">6.5%<\/td><td class=\"column-7\">2.2%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">$1,459 <\/td><td class=\"column-3\">-6.4%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.55 <\/td><td class=\"column-6\">-2.2%<\/td><td class=\"column-7\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">$1,470 <\/td><td class=\"column-3\">-1.3%<\/td><td class=\"column-4\">1.7%<\/td><td class=\"column-5\">$1.64 <\/td><td class=\"column-6\">-1.6%<\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">$2,780 <\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$3.37 <\/td><td class=\"column-6\">2.2%<\/td><td class=\"column-7\">0.4%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Louisville\/Jefferson County, KY<\/td><td class=\"column-2\">$1,249 <\/td><td class=\"column-3\">10.5%<\/td><td class=\"column-4\">1.6%<\/td><td class=\"column-5\">$1.36 <\/td><td class=\"column-6\">13.3%<\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">$1,204 <\/td><td class=\"column-3\">3.1%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$1.22 <\/td><td class=\"column-6\">1.5%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">$2,390 <\/td><td class=\"column-3\">1.9%<\/td><td class=\"column-4\">0.9%<\/td><td class=\"column-5\">$2.48 <\/td><td class=\"column-6\">2.1%<\/td><td class=\"column-7\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">$1,540 <\/td><td class=\"column-3\">-4.6%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.89 <\/td><td class=\"column-6\">-1.9%<\/td><td class=\"column-7\">-0.2%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">$1,519 <\/td><td class=\"column-3\">-4.7%<\/td><td class=\"column-4\">1.6%<\/td><td class=\"column-5\">$1.73 <\/td><td class=\"column-6\">0.1%<\/td><td class=\"column-7\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">$2,827 <\/td><td class=\"column-3\">-5.0%<\/td><td class=\"column-4\">1.0%<\/td><td class=\"column-5\">$3.52 <\/td><td class=\"column-6\">-2.7%<\/td><td class=\"column-7\">1.8%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">$1,733 <\/td><td class=\"column-3\">-1.5%<\/td><td class=\"column-4\">1.3%<\/td><td class=\"column-5\">$1.81 <\/td><td class=\"column-6\">-3.2%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">$1,855 <\/td><td class=\"column-3\">-0.8%<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">$2.16 <\/td><td class=\"column-6\">-3.1%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">$1,475 <\/td><td class=\"column-3\">-1.3%<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">$1.77 <\/td><td class=\"column-6\">-0.5%<\/td><td class=\"column-7\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Pittsburgh, PA<\/td><td class=\"column-2\">$1,410 <\/td><td class=\"column-3\">-0.7%<\/td><td class=\"column-4\">2.5%<\/td><td class=\"column-5\">$1.70 <\/td><td class=\"column-6\">3.3%<\/td><td class=\"column-7\">1.5%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">$1,760 <\/td><td class=\"column-3\">-3.6%<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">$2.01 <\/td><td class=\"column-6\">-6.1%<\/td><td class=\"column-7\">-0.9%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">$2,148 <\/td><td class=\"column-3\">13.4%<\/td><td class=\"column-4\">1.1%<\/td><td class=\"column-5\">$2.58 <\/td><td class=\"column-6\">9.3%<\/td><td class=\"column-7\">2.2%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Raleigh, NC<\/td><td class=\"column-2\">$1,410 <\/td><td class=\"column-3\">-4.7%<\/td><td class=\"column-4\">-1.2%<\/td><td class=\"column-5\">$1.50 <\/td><td class=\"column-6\">-2.4%<\/td><td class=\"column-7\">0.2%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Richmond, VA<\/td><td class=\"column-2\">$1,573 <\/td><td class=\"column-3\">2.9%<\/td><td class=\"column-4\">-0.4%<\/td><td class=\"column-5\">$1.72 <\/td><td class=\"column-6\">1.7%<\/td><td class=\"column-7\">-0.1%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">$2,292 <\/td><td class=\"column-3\">2.8%<\/td><td class=\"column-4\">1.4%<\/td><td class=\"column-5\">$2.61 <\/td><td class=\"column-6\">4.9%<\/td><td class=\"column-7\">-0.2%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">$1,999 <\/td><td class=\"column-3\">4.7%<\/td><td class=\"column-4\">1.9%<\/td><td class=\"column-5\">$2.34 <\/td><td class=\"column-6\">-0.5%<\/td><td class=\"column-7\">-0.8%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Salt Lake City, UT<\/td><td class=\"column-2\">$1,476 <\/td><td class=\"column-3\">-6.5%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$1.81 <\/td><td class=\"column-6\">-8.4%<\/td><td class=\"column-7\">-0.6%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">$2,693 <\/td><td class=\"column-3\">-3.3%<\/td><td class=\"column-4\">-4.7%<\/td><td class=\"column-5\">$3.24 <\/td><td class=\"column-6\">-1.8%<\/td><td class=\"column-7\">-3.7%<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">$2,695 <\/td><td class=\"column-3\">-0.1%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$3.53 <\/td><td class=\"column-6\">-4.6%<\/td><td class=\"column-7\">-0.5%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">$3,184 <\/td><td class=\"column-3\">4.2%<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">$3.71 <\/td><td class=\"column-6\">7.6%<\/td><td class=\"column-7\">0.2%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">$2,055 <\/td><td class=\"column-3\">1.8%<\/td><td class=\"column-4\">2.3%<\/td><td class=\"column-5\">$2.69 <\/td><td class=\"column-6\">-1.4%<\/td><td class=\"column-7\">2.0%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">St. Louis, MO<\/td><td class=\"column-2\">$1,236 <\/td><td class=\"column-3\">-1.5%<\/td><td class=\"column-4\">0.9%<\/td><td class=\"column-5\">$1.45 <\/td><td class=\"column-6\">-0.5%<\/td><td class=\"column-7\">1.8%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">$1,729 <\/td><td class=\"column-3\">-8.2%<\/td><td class=\"column-4\">-0.4%<\/td><td class=\"column-5\">$1.93 <\/td><td class=\"column-6\">-3.0%<\/td><td class=\"column-7\">-2.7%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">$1,548 <\/td><td class=\"column-3\">8.6%<\/td><td class=\"column-4\">-1.9%<\/td><td class=\"column-5\">$1.68 <\/td><td class=\"column-6\">9.6%<\/td><td class=\"column-7\">-1.0%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">$2,050 <\/td><td class=\"column-3\">8.8%<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">$2.35 <\/td><td class=\"column-6\">10.5%<\/td><td class=\"column-7\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\"><strong>National<\/strong><\/td><td class=\"column-2\"><strong>$1,599 <\/strong><\/td><td class=\"column-3\"><strong>-0.1%<\/strong><\/td><td class=\"column-4\"><strong>0.5%<\/strong><\/td><td class=\"column-5\"><strong>$1.80 <\/strong><\/td><td class=\"column-6\"><strong>-1.5%<\/strong><\/td><td class=\"column-7\"><strong>0.8%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-431 from cache -->\n<h3>\u200bMethodology<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nMedian 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 January 2025 covers rentals that were listed on Rent.com and Redfin.com during the three months ending January 31, 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Metro-level data in this report covers 44 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>Nationwide, the median asking rent was little changed from a year earlier, down 0.1% to $1,599. But rents may inch up if demand outstrips supply in a big way, which is feasible because apartment construction is slowing and high homebuying costs are fueling renter demand. The median U.S. asking rent was $1,599 in January, little 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