{"id":79397,"date":"2025-03-07T05:00:46","date_gmt":"2025-03-07T13:00:46","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=79397"},"modified":"2025-03-05T15:31:04","modified_gmt":"2025-03-05T23:31:04","slug":"rental-tracker-february-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/rental-tracker-february-2025\/","title":{"rendered":"U.S. Asking Rents Rose 0.4% in February\u2014A Small Increase, But the First in 6 Months"},"content":{"rendered":"<p><strong><i>Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units.<\/i><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The median U.S. asking rent rose 0.4% year over year to $1,607 in February. While that\u2019s a small gain, it\u2019s the first increase in six months and the biggest in nine months. <\/span><\/p>\n<div id=\"viz1741203014051\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;www.redfin.com&#47;'><img alt='Median Asking Rent Value ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Z3&#47;Z36T7J2CZ&#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\/Z36T7J2CZ\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Z3\/Z36T7J2CZ\/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><script type='text\/javascript'>                    var divElement = document.getElementById('viz1741203014051');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else { vizElement.style.width='100%';vizElement.style.height='1477px';}                     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;\">On a month-over-month basis, asking rents climbed 0.6%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though asking rents inched up in February, they\u2019ve been relatively flat for the past 10 months compared to the large swings of the past few years. Rents skyrocketed as much as 18% year over year during the pandemic moving frenzy in 2021, and then fell as much as 4% in 2023.<\/span><span style=\"font-weight: 400;\"> Asking rents are now flattening because rental supply and demand are near equilibrium.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe era of big rent declines is over for most of the country,\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;\">. \u201cA ton of new apartments have hit the market, and demand for those apartments is strong because it\u2019s so expensive to buy a home. But apartment construction is starting to <\/span><a href=\"https:\/\/fred.stlouisfed.org\/series\/PERMIT5\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">slow<\/span><\/a><span style=\"font-weight: 400;\">, which means there may be more renters than apartments to go around as soon as next year. That could cause rents to tick up and the perks that many renters have grown accustomed to\u2014like free parking\u2014to disappear.\u201d<\/span><\/p>\n<h3>Asking rents drop most in Austin, rise most in Cincinnati<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nIn Austin, TX, the median asking rent dropped 9.4% year over year in February to $1,404\u2014the largest decline among the 44 major U.S. metropolitan areas Redfin analyzed. It\u2019s now 22% below its August 2023 record high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Salt Lake City was home to the second largest decline (-7.8%), followed by Jacksonville, FL (-6.7%), Minneapolis (-5.9%) and San Diego (-5.6%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Asking rents have been 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;\">\u00a0<\/span><span style=\"font-weight: 400;\">Rents rose most in Cincinnati (15.3%), Providence, RI (12.4%), Baltimore (9.6%), Washington, D.C. (9.2%) and Cleveland (8.5%).<\/span><\/p>\n<h3>Asking rents tick up for smaller apartments, but tick down for larger apartments<\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nThe median asking rent for 0-1 bedroom apartments rose 0.4% year over year to $1,467\u2014the first increase since June. The median asking rent for 2 bedroom apartments rose 0.6% to $1,689\u2014also the first increase since June.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The median asking rent for 3+ bedroom apartments fell 0.5% to $1,990, though that was the smallest decline in months.<\/span><\/p>\n<div id=\"viz1741203065071\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;www.redfin.com&#47;'><img alt='Median Asking Rent Value ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;8J&#47;8JDSSHFWY&#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\/8JDSSHFWY\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/8J\/8JDSSHFWY\/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><script type='text\/javascript'>                    var divElement = document.getElementById('viz1741203065071');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='800px';vizElement.style.height='627px';} else { vizElement.style.width='100%';vizElement.style.height='1477px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<h4>Metro-level summary: February 2025<\/h4>\n\n<table id=\"tablepress-438\" class=\"tablepress tablepress-id-438\">\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\">$1,528 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">$1.57 <\/td><td class=\"column-6\">-1.3%<\/td><td class=\"column-7\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">$1,404 <\/td><td class=\"column-3\">-9.4%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$1.63 <\/td><td class=\"column-6\">-9.9%<\/td><td class=\"column-7\">1.4%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">$1,605 <\/td><td class=\"column-3\">9.6%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.74 <\/td><td class=\"column-6\">7.6%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Birmingham, AL<\/td><td class=\"column-2\">$1,368 <\/td><td class=\"column-3\">2.5%<\/td><td class=\"column-4\">1.0%<\/td><td class=\"column-5\">$1.30 <\/td><td class=\"column-6\">0.1%<\/td><td class=\"column-7\">-0.2%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">$2,722 <\/td><td class=\"column-3\">6.3%<\/td><td class=\"column-4\">1.4%<\/td><td class=\"column-5\">$3.21 <\/td><td class=\"column-6\">3.2%<\/td><td class=\"column-7\">4.0%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Buffalo, NY<\/td><td class=\"column-2\">$1,293 <\/td><td class=\"column-3\">3.8%<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">$1.67 <\/td><td class=\"column-6\">0.7%<\/td><td class=\"column-7\">-0.4%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">$1,485 <\/td><td class=\"column-3\">1.0%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$1.58 <\/td><td class=\"column-6\">-0.7%<\/td><td class=\"column-7\">0.9%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">$1,719 <\/td><td class=\"column-3\">6.7%<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">$2.19 <\/td><td class=\"column-6\">6.0%<\/td><td class=\"column-7\">1.1%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">$1,453 <\/td><td class=\"column-3\">15.3%<\/td><td class=\"column-4\">2.7%<\/td><td class=\"column-5\">$1.60 <\/td><td class=\"column-6\">7.8%<\/td><td class=\"column-7\">2.5%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">$1,270 <\/td><td class=\"column-3\">8.5%<\/td><td class=\"column-4\">-1.3%<\/td><td class=\"column-5\">$1.45 <\/td><td class=\"column-6\">6.6%<\/td><td class=\"column-7\">-0.3%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">$1,406 <\/td><td class=\"column-3\">3.1%<\/td><td class=\"column-4\">0.8%<\/td><td class=\"column-5\">$1.56 <\/td><td class=\"column-6\">8.7%<\/td><td class=\"column-7\">1.4%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">$1,454 <\/td><td class=\"column-3\">-5.5%<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">$1.73 <\/td><td class=\"column-6\">-3.0%<\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">$1,687 <\/td><td class=\"column-3\">-0.7%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$2.07 <\/td><td class=\"column-6\">-5.7%<\/td><td class=\"column-7\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">$1,350 <\/td><td class=\"column-3\">1.9%<\/td><td class=\"column-4\">1.4%<\/td><td class=\"column-5\">$1.54 <\/td><td class=\"column-6\">4.4%<\/td><td class=\"column-7\">1.3%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">$1,239 <\/td><td class=\"column-3\">-1.7%<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">$1.44 <\/td><td class=\"column-6\">-5.3%<\/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\">$1,395 <\/td><td class=\"column-3\">3.3%<\/td><td class=\"column-4\">1.5%<\/td><td class=\"column-5\">$1.53 <\/td><td class=\"column-6\">4.8%<\/td><td class=\"column-7\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">$1,455 <\/td><td class=\"column-3\">-6.7%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$1.55 <\/td><td class=\"column-6\">-3.2%<\/td><td class=\"column-7\">0.4%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">$1,486 <\/td><td class=\"column-3\">2.5%<\/td><td class=\"column-4\">1.2%<\/td><td class=\"column-5\">$1.65 <\/td><td class=\"column-6\">-0.8%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">$2,760 <\/td><td class=\"column-3\">-1.3%<\/td><td class=\"column-4\">-0.4%<\/td><td class=\"column-5\">$3.37 <\/td><td class=\"column-6\">2.0%<\/td><td class=\"column-7\">0.2%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Louisville\/Jefferson County, KY<\/td><td class=\"column-2\">$1,265 <\/td><td class=\"column-3\">8.1%<\/td><td class=\"column-4\">1.3%<\/td><td class=\"column-5\">$1.38 <\/td><td class=\"column-6\">15.0%<\/td><td class=\"column-7\">1.5%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">$1,221 <\/td><td class=\"column-3\">4.2%<\/td><td class=\"column-4\">1.4%<\/td><td class=\"column-5\">$1.24 <\/td><td class=\"column-6\">2.9%<\/td><td class=\"column-7\">1.6%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">$2,412 <\/td><td class=\"column-3\">1.5%<\/td><td class=\"column-4\">1.3%<\/td><td class=\"column-5\">$2.54 <\/td><td class=\"column-6\">4.1%<\/td><td class=\"column-7\">2.8%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">$1,525 <\/td><td class=\"column-3\">-5.9%<\/td><td class=\"column-4\">-1.2%<\/td><td class=\"column-5\">$1.89 <\/td><td class=\"column-6\">-3.5%<\/td><td class=\"column-7\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">$1,535 <\/td><td class=\"column-3\">-2.5%<\/td><td class=\"column-4\">1.3%<\/td><td class=\"column-5\">$1.75 <\/td><td class=\"column-6\">3.3%<\/td><td class=\"column-7\">1.2%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">$2,840 <\/td><td class=\"column-3\">-4.4%<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">$3.52 <\/td><td class=\"column-6\">-2.9%<\/td><td class=\"column-7\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">$1,739 <\/td><td class=\"column-3\">-1.9%<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">$1.80 <\/td><td class=\"column-6\">-4.0%<\/td><td class=\"column-7\">-0.3%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">$1,875 <\/td><td class=\"column-3\">1.4%<\/td><td class=\"column-4\">1.1%<\/td><td class=\"column-5\">$2.18 <\/td><td class=\"column-6\">-0.1%<\/td><td class=\"column-7\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">$1,482 <\/td><td class=\"column-3\">-1.2%<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">$1.79 <\/td><td class=\"column-6\">-0.2%<\/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\">$1,450 <\/td><td class=\"column-3\">1.0%<\/td><td class=\"column-4\">2.6%<\/td><td class=\"column-5\">$1.74 <\/td><td class=\"column-6\">5.2%<\/td><td class=\"column-7\">1.9%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">$1,750 <\/td><td class=\"column-3\">-5.2%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$2.01 <\/td><td class=\"column-6\">-3.7%<\/td><td class=\"column-7\">-0.1%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">$2,155 <\/td><td class=\"column-3\">12.4%<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">$2.58 <\/td><td class=\"column-6\">10.0%<\/td><td class=\"column-7\">0.0%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Raleigh, NC<\/td><td class=\"column-2\">$1,420 <\/td><td class=\"column-3\">-3.7%<\/td><td class=\"column-4\">0.9%<\/td><td class=\"column-5\">$1.53 <\/td><td class=\"column-6\">-0.1%<\/td><td class=\"column-7\">2.2%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Richmond, VA<\/td><td class=\"column-2\">$1,566 <\/td><td class=\"column-3\">1.1%<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">$1.72 <\/td><td class=\"column-6\">-0.9%<\/td><td class=\"column-7\">0.4%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">$2,329 <\/td><td class=\"column-3\">1.3%<\/td><td class=\"column-4\">1.2%<\/td><td class=\"column-5\">$2.61 <\/td><td class=\"column-6\">2.8%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">$2,011 <\/td><td class=\"column-3\">4.7%<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">$2.33 <\/td><td class=\"column-6\">-1.8%<\/td><td class=\"column-7\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Salt Lake City, UT<\/td><td class=\"column-2\">$1,499 <\/td><td class=\"column-3\">-7.8%<\/td><td class=\"column-4\">1.6%<\/td><td class=\"column-5\">$1.86 <\/td><td class=\"column-6\">-8.8%<\/td><td class=\"column-7\">3.4%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">$2,658 <\/td><td class=\"column-3\">-5.6%<\/td><td class=\"column-4\">-0.9%<\/td><td class=\"column-5\">$3.20 <\/td><td class=\"column-6\">-4.3%<\/td><td class=\"column-7\">-1.1%<\/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\">-2.0%<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">$3.52 <\/td><td class=\"column-6\">-6.8%<\/td><td class=\"column-7\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">$3,225 <\/td><td class=\"column-3\">2.9%<\/td><td class=\"column-4\">1.6%<\/td><td class=\"column-5\">$3.77 <\/td><td class=\"column-6\">8.7%<\/td><td class=\"column-7\">1.7%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">$2,075 <\/td><td class=\"column-3\">1.9%<\/td><td class=\"column-4\">1.2%<\/td><td class=\"column-5\">$2.71 <\/td><td class=\"column-6\">-2.4%<\/td><td class=\"column-7\">1.3%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">St. Louis, MO<\/td><td class=\"column-2\">$1,252 <\/td><td class=\"column-3\">-2.9%<\/td><td class=\"column-4\">1.3%<\/td><td class=\"column-5\">$1.47 <\/td><td class=\"column-6\">-2.0%<\/td><td class=\"column-7\">0.8%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">$1,773 <\/td><td class=\"column-3\">-0.5%<\/td><td class=\"column-4\">2.8%<\/td><td class=\"column-5\">$1.92 <\/td><td class=\"column-6\">-2.1%<\/td><td class=\"column-7\">-0.4%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">$1,550 <\/td><td class=\"column-3\">8.1%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$1.68 <\/td><td class=\"column-6\">8.3%<\/td><td class=\"column-7\">-0.1%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">$2,045 <\/td><td class=\"column-3\">9.2%<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">$2.35 <\/td><td class=\"column-6\">9.2%<\/td><td class=\"column-7\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\"><strong>National<\/strong><\/td><td class=\"column-2\"><strong>$1,607 <\/strong><\/td><td class=\"column-3\"><strong>0.4%<\/strong><\/td><td class=\"column-4\"><strong>0.6%<\/strong><\/td><td class=\"column-5\"><strong>$1.81 <\/strong><\/td><td class=\"column-6\"><strong>-0.4%<\/strong><\/td><td class=\"column-7\"><strong>1.0%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-438 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 February 2025 covers rentals that were listed on Rent.com and Redfin.com during the three months ending Feb. 28, 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>Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units. The median U.S. asking rent rose 0.4% year over year to $1,607 in February. While that\u2019s a small gain, it\u2019s the first increase in six months and the biggest in [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":77207,"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 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[694,563],"tags":[623,562,697,88],"dashboard":[],"coauthors":[125],"class_list":["post-79397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-monthly-rental-tracker","category-rental-market","tag-national","tag-rental-report","tag-rentals","tag-renting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Asking Rents Rose 0.4% in February\u2014The First Increase in 6 Months<\/title>\n<meta name=\"description\" content=\"Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could lead to more renters than vacant units.\" \/>\n<meta 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