{"id":81735,"date":"2025-08-14T05:30:59","date_gmt":"2025-08-14T12:30:59","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81735"},"modified":"2025-09-03T09:45:43","modified_gmt":"2025-09-03T16:45:43","slug":"rental-tracker-july-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/rental-tracker-july-2025\/","title":{"rendered":"U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>The median asking rent rose 1.7% ($30) year over year to $1,790 in July. Shrinking supply may be tilting the balance of power toward landlords.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Still, asking rents were below their record high and grew at a slower pace than wages.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>San Jose and Chicago saw the biggest increases in asking rents, while Jacksonville and Austin saw the biggest declines.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Redfin debuted a new rental methodology to report on asking rents for apartments in buildings with 25+ units.<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The median U.S. asking rent rose 1.7% ($30) year over year to $1,790 in July\u2014the largest increase since January 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">July marked the second-consecutive year-over-year increase (the median asking rent rose 0.4% in June) following over two years of declining or flat rents.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-bH0it\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Apartment Asking Rents Post Biggest Increase Since 2023\" src=\"https:\/\/datawrapper.dwcdn.net\/bH0it\/2\/\" height=\"487\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">The median asking rent climbed 0.8% on a month-over-month basis in July.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAsking rents may be climbing because shrinking apartment supply is coinciding with growing renter demand, which is being fueled by the high cost of homeownership,&#8221;\u00a0<\/span><span style=\"font-weight: 400;\">said <\/span><span style=\"font-weight: 400;\">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;\">. \u201cRents have been sluggish for the past two years because the pandemic building boom created a surplus of supply, which left landlords scrambling to fill vacancies and gave renters negotiating power. But now a slowdown in apartment construction may be shifting the balance of power toward landlords.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Permits to build multifamily housing have fallen 23.1% since the pandemic construction boom as sluggish rents and high borrowing costs for builders have made building less attractive, Redfin <a href=\"https:\/\/www.redfin.com\/news\/multifamily-building-permits-august-2025\" target=\"_blank\" rel=\"noopener\">reported<\/a> this week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In many parts of the country, renters have had success asking for concessions like free parking or reduced rent, but those perks could dry up as supply shrinks.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-SQBOV\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Typical Apartment Asking Rent Nears $1,800\" src=\"https:\/\/datawrapper.dwcdn.net\/SQBOV\/2\/\" height=\"445\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">While the median asking rent is ticking up, it\u2019s worth noting that it remains $70 below the July 2022 record high of $1,860. Wages are also <\/span><a href=\"https:\/\/www.atlantafed.org\/chcs\/wage-growth-tracker\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">growing<\/span><\/a><span style=\"font-weight: 400;\"> faster than asking rents, indicating that rental affordability is actually improving.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This report marks the debut of Redfin\u2019s new rental methodology. Previously, we reported on median asking rents for units in buildings with 5+ units using data from Rent. We now report on median asking rents for units in buildings with 25+ units using data from Zillow, who Redfin <\/span><a href=\"https:\/\/www.redfin.com\/news\/press-releases\/zillow-and-redfin-partner-to-make-apartment-hunting-easier-and-give-listings-more-exposure\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">partnered<\/span><\/a><span style=\"font-weight: 400;\"> with in February. We report on rolling three-month periods; this report focuses on asking rents during the three months ending July 31, 2025, which we refer to as \u201cJuly.\u201d<\/span><\/p>\n<h3><b>San Jose Posts Biggest Increase in Asking Rents, Jacksonville Posts Biggest Decrease<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nIn <\/span><a href=\"https:\/\/www.redfin.com\/city\/17420\/CA\/San-Jose\/apartments-for-rent\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/a><span style=\"font-weight: 400;\">, the median asking rent rose 8.8% year over year in July to $3,569\u2014the biggest increase and the highest level among the 43 major core-based statistical areas (CBSAs) Redfin analyzed. <\/span><a href=\"https:\/\/www.redfin.com\/city\/29470\/IL\/Chicago\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Chicago<\/span><\/a><span style=\"font-weight: 400;\"> saw the second-biggest increase (8.6%), followed by <\/span><a href=\"https:\/\/www.redfin.com\/city\/12839\/DC\/Washington-DC\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Washington, D.C.<\/span><\/a><span style=\"font-weight: 400;\"> (8.5%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/15702\/PA\/Pittsburgh\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Pittsburgh<\/span><\/a><span style=\"font-weight: 400;\"> (7.7%) and <\/span><a href=\"https:\/\/www.redfin.com\/city\/15502\/PA\/Philadelphia\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Philadelphia<\/span><\/a><span style=\"font-weight: 400;\"> (7.5%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of these metros may be seeing rents jump because new supply has been shrinking. Permits to build apartments in San Jose have fallen 74.5% since the pandemic\u2014the second biggest decline among the 78 metros analyzed in a separate <a href=\"https:\/\/www.redfin.com\/news\/multifamily-building-permits-august-2025\" target=\"_blank\" rel=\"noopener\">report<\/a>. Philadelphia posted the fifth-largest decline in permits, down 62.1%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Only seven of the metros Redfin analyzed in this report saw asking rents fall, led by Florida and Texas. <\/span><a href=\"https:\/\/www.redfin.com\/city\/8907\/FL\/Jacksonville\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/a><span style=\"font-weight: 400;\"> saw the biggest decline (-3.5%), followed by <\/span><a href=\"https:\/\/www.redfin.com\/city\/30818\/TX\/Austin\/apartments-for-rent\"><span style=\"font-weight: 400;\">Austin, TX<\/span><\/a><span style=\"font-weight: 400;\"> (-2.6%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/12262\/KY\/Louisville\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Louisville, KY<\/span><\/a><span style=\"font-weight: 400;\"> (-2.4%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/3879\/OH\/Cincinnati\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Cincinnati<\/span><\/a><span style=\"font-weight: 400;\"> (-1.7%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/14240\/AZ\/Phoenix\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Phoenix<\/span><\/a><span style=\"font-weight: 400;\"> (-1.1%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/4145\/OH\/Cleveland\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Cleveland<\/span><\/a><span style=\"font-weight: 400;\"> (-1%) and <\/span><a href=\"https:\/\/www.redfin.com\/city\/13655\/FL\/Orlando\/rentals\/filter\/property-type=multifamily\"><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/a><span style=\"font-weight: 400;\"> (-0.2%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Again, it\u2019s likely a supply story. Florida and Texas are permitting more multifamily housing than other parts of the country. Austin granted permits to build 63.6 multifamily units for every 10,000 people over the past year\u2014the second highest among the metros Redfin <a href=\"https:\/\/www.redfin.com\/news\/multifamily-building-permits-august-2025\" target=\"_blank\" rel=\"noopener\">analyzed<\/a>. Orlando and Jacksonville are also near the top of the list when it comes to permitting.<\/span><\/p>\n<h3><b>Asking Rents Are Rising Fastest for 0-1 Bedroom Apartments<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nThe median asking rent for 0-1 bedroom apartments rose 3.4% year over year to $1,650 in July\u2014the biggest increase since September 2022. For 2 bedroom apartments, it increased 1.7% to $1,907\u2014the largest jump since November 2022. And for 3+ bedroom apartments, it fell 1.5% to $2,192\u2014the lowest level for this time of year since 2021. <\/span><\/p>\n<h3><b>Metro-level Summary: Three Months Ending July 31, 2025<\/b><\/h3>\n<p><i><span style=\"font-weight: 400;\">The table below includes 43 of the 50 most populous U.S. CBSAs\u2014those with sufficient rental data.<\/span><\/i><\/p>\n\n<table id=\"tablepress-475\" class=\"tablepress tablepress-id-475\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Core-based statistical area (CBSA)<\/strong><\/th><th class=\"column-2\"><strong>Median asking rent<\/strong><\/th><th class=\"column-3\"><strong>Month-over-month change in median asking rent<\/strong><\/th><th class=\"column-4\"><strong>Year-over-year change in median asking rent<\/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-Sandy Springs-Alpharetta, GA\u00a0<\/td><td class=\"column-2\">$1,698 <\/td><td class=\"column-3\">0.6%<\/td><td class=\"column-4\">1.5%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Austin-Round Rock-Georgetown, TX\u00a0<\/td><td class=\"column-2\">$1,519 <\/td><td class=\"column-3\">-0.7%<\/td><td class=\"column-4\">-2.6%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Baltimore-Columbia-Towson, MD\u00a0<\/td><td class=\"column-2\">$1,846 <\/td><td class=\"column-3\">2.3%<\/td><td class=\"column-4\">5.0%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Birmingham-Hoover, AL\u00a0<\/td><td class=\"column-2\">$1,400 <\/td><td class=\"column-3\">3.4%<\/td><td class=\"column-4\">5.7%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Boston-Cambridge-Newton, MA-NH\u00a0<\/td><td class=\"column-2\">$3,165 <\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">7.3%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Charlotte-Concord-Gastonia, NC-SC\u00a0<\/td><td class=\"column-2\">$1,656 <\/td><td class=\"column-3\">0.3%<\/td><td class=\"column-4\">4.5%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Chicago-Naperville-Elgin, IL-IN-WI\u00a0<\/td><td class=\"column-2\">$2,270 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">8.6%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Cincinnati, OH-KY-IN\u00a0<\/td><td class=\"column-2\">$1,519 <\/td><td class=\"column-3\">-0.4%<\/td><td class=\"column-4\">-1.7%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Cleveland-Elyria, OH\u00a0<\/td><td class=\"column-2\">$1,505 <\/td><td class=\"column-3\">1.3%<\/td><td class=\"column-4\">-1.0%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Columbus, OH\u00a0<\/td><td class=\"column-2\">$1,439 <\/td><td class=\"column-3\">-0.7%<\/td><td class=\"column-4\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Dallas-Fort Worth-Arlington, TX\u00a0<\/td><td class=\"column-2\">$1,561 <\/td><td class=\"column-3\">-0.1%<\/td><td class=\"column-4\">1.8%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Denver-Aurora-Lakewood, CO\u00a0<\/td><td class=\"column-2\">$1,895 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">0.3%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Detroit-Warren-Dearborn, MI\u00a0<\/td><td class=\"column-2\">$1,430 <\/td><td class=\"column-3\">0.6%<\/td><td class=\"column-4\">2.1%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Houston-The Woodlands-Sugar Land, TX\u00a0<\/td><td class=\"column-2\">$1,449 <\/td><td class=\"column-3\">0.8%<\/td><td class=\"column-4\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Indianapolis-Carmel-Anderson, IN\u00a0<\/td><td class=\"column-2\">$1,449 <\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">4.3%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Jacksonville, FL\u00a0<\/td><td class=\"column-2\">$1,534 <\/td><td class=\"column-3\">-0.1%<\/td><td class=\"column-4\">-3.5%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Las Vegas-Henderson-Paradise, NV\u00a0<\/td><td class=\"column-2\">$1,586 <\/td><td class=\"column-3\">0.3%<\/td><td class=\"column-4\">2.6%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Los Angeles-Long Beach-Anaheim, CA\u00a0<\/td><td class=\"column-2\">$2,886 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">3.1%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Louisville\/Jefferson County, KY-IN\u00a0<\/td><td class=\"column-2\">$1,313 <\/td><td class=\"column-3\">-0.5%<\/td><td class=\"column-4\">-2.4%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Memphis, TN-MS-AR\u00a0<\/td><td class=\"column-2\">$1,299 <\/td><td class=\"column-3\">1.9%<\/td><td class=\"column-4\">3.8%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Miami-Fort Lauderdale-Pompano Beach, FL\u00a0<\/td><td class=\"column-2\">$2,658 <\/td><td class=\"column-3\">-0.2%<\/td><td class=\"column-4\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Minneapolis-St. Paul-Bloomington, MN-WI\u00a0<\/td><td class=\"column-2\">$1,625 <\/td><td class=\"column-3\">0.1%<\/td><td class=\"column-4\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Nashville-Davidson--Murfreesboro--Franklin, TN\u00a0<\/td><td class=\"column-2\">$1,710 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">New York-Newark-Jersey City, NY-NJ-PA\u00a0<\/td><td class=\"column-2\">$3,194 <\/td><td class=\"column-3\">0.7%<\/td><td class=\"column-4\">2.7%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Orlando-Kissimmee-Sanford, FL\u00a0<\/td><td class=\"column-2\">$1,829 <\/td><td class=\"column-3\">-1.0%<\/td><td class=\"column-4\">-0.2%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Philadelphia-Camden-Wilmington, PA-NJ-DE-MD\u00a0<\/td><td class=\"column-2\">$2,015 <\/td><td class=\"column-3\">1.0%<\/td><td class=\"column-4\">7.5%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Phoenix-Mesa-Chandler, AZ\u00a0<\/td><td class=\"column-2\">$1,582 <\/td><td class=\"column-3\">-0.4%<\/td><td class=\"column-4\">-1.1%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Pittsburgh, PA\u00a0<\/td><td class=\"column-2\">$1,695 <\/td><td class=\"column-3\">1.2%<\/td><td class=\"column-4\">7.7%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">Portland-Vancouver-Hillsboro, OR-WA\u00a0<\/td><td class=\"column-2\">$1,730 <\/td><td class=\"column-3\">0.6%<\/td><td class=\"column-4\">0.1%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Providence-Warwick, RI-MA\u00a0<\/td><td class=\"column-2\">$2,375 <\/td><td class=\"column-3\">-0.3%<\/td><td class=\"column-4\">5.7%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Raleigh-Cary, NC\u00a0<\/td><td class=\"column-2\">$1,539 <\/td><td class=\"column-3\">0.8%<\/td><td class=\"column-4\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Richmond, VA\u00a0<\/td><td class=\"column-2\">$1,629 <\/td><td class=\"column-3\">0.2%<\/td><td class=\"column-4\">2.5%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Riverside-San Bernardino-Ontario, CA\u00a0<\/td><td class=\"column-2\">$2,414 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">2.2%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Sacramento-Roseville-Folsom, CA\u00a0<\/td><td class=\"column-2\">$2,138 <\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">3.6%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Salt Lake City, UT\u00a0<\/td><td class=\"column-2\">$1,630 <\/td><td class=\"column-3\">-0.3%<\/td><td class=\"column-4\">1.9%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">San Diego-Chula Vista-Carlsbad, CA\u00a0<\/td><td class=\"column-2\">$2,960 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">4.0%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">San Francisco-Oakland-Berkeley, CA\u00a0<\/td><td class=\"column-2\">$2,979 <\/td><td class=\"column-3\">0.5%<\/td><td class=\"column-4\">5.9%<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">San Jose-Sunnyvale-Santa Clara, CA\u00a0<\/td><td class=\"column-2\">$3,569 <\/td><td class=\"column-3\">1.0%<\/td><td class=\"column-4\">8.8%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">Seattle-Tacoma-Bellevue, WA\u00a0<\/td><td class=\"column-2\">$2,160 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">6.4%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">St. Louis, MO-IL\u00a0<\/td><td class=\"column-2\">$1,400 <\/td><td class=\"column-3\">0.1%<\/td><td class=\"column-4\">1.1%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">Tampa-St. Petersburg-Clearwater, FL\u00a0<\/td><td class=\"column-2\">$1,898 <\/td><td class=\"column-3\">-0.1%<\/td><td class=\"column-4\">3.5%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">Virginia Beach-Norfolk-Newport News, VA-NC\u00a0<\/td><td class=\"column-2\">$1,645 <\/td><td class=\"column-3\">-0.2%<\/td><td class=\"column-4\">3.3%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">Washington-Arlington-Alexandria, DC-VA-MD-WV\u00a0<\/td><td class=\"column-2\">$2,424 <\/td><td class=\"column-3\">0.9%<\/td><td class=\"column-4\">8.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-475 from cache -->\n<h3><a href=\"https:\/\/www.redfin.com\/news\/redfin-rental-data-methodology\" target=\"_blank\" rel=\"noopener\"><b>\u200b<\/b><b>Methodology<\/b><\/a><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nMedian asking rent figures in this report cover newly listed units in apartment buildings with 25 or more units. The median is calculated based on a rolling three-month period, i.e., the median asking rent for July 2025 covers rentals that were listed on Redfin.com during the three months ending July 31, 2025. Rental records date back to 2019.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Metro-level data in this report cover 43 of the 50 most populous U.S. core-based statistical areas (CBSAs)\u2014those with 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 1.7% ($30) year over year to $1,790 in July. Shrinking supply may be tilting the balance of power toward landlords. Still, asking rents were below their record high and grew at a slower pace than wages. San Jose and Chicago saw the biggest increases in asking rents, while Jacksonville and [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":55269,"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":[562,697,88],"dashboard":[],"coauthors":[125],"class_list":["post-81735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-monthly-rental-tracker","category-rental-market","tag-rental-report","tag-rentals","tag-renting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years<\/title>\n<meta name=\"description\" content=\"The median asking rent rose 1.7% year over year to $1,790 in July. 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