Rental Tracker
All Reports
New Apartments Are Increasingly Likely to Get Snapped Up Quickly As Construction Slows
48% of apartments built in Q1 were rented within three months, up from 47% in Q4 2024 and 46% in Q3 2024. As the balance
U.S. Asking Rents Rise Most Since 2022 As Apartment Construction Slows
Asking rents climbed 3% in August as slowing supply and robust demand gave landlords more bargaining power; the number of new apartments hitting the market
U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of
Permits to Build U.S. Apartments Have Fallen 23% Since the Pandemic Construction Boom
Developers obtained permits to build 12.8 multifamily housing units for every 10,000 people in the U.S. over the past year—down from an average of 16.7
U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years
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.
Redfin Rental Data Methodology
Asking-rent data cover newly listed units in apartment buildings with 25 or more units. The median is calculated based on rolling three-month periods, i.e., the
A Minimum-Wage Worker Would Have to Work 106 Hours a Week to Afford the Typical U.S. Apartment
That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to
Austin Asking Rents Drop 16% in January—More Than Any Other Major Metro—And Are Now $400 Below Their Record High
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
Downtown Seattle Rents Rise for the First Time in 17 Months as Amazon Workers Go Back to the Office Full Time
The median asking rent for an apartment in downtown Seattle grew 2.5% year over year in December to $2,000—the first rise in 17 months. Seattle
Renters Need to Earn $63,680 to Afford the Typical U.S. Apartment—the Lowest Amount in 3 Years
Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment—the lowest income required since early 2022. Texas metros Austin, Houston
U.S. Asking Rents Ended 2024 at the Lowest Level in Nearly Three Years
The median asking rent fell 0.3% year over year in December to $1,594, the lowest since March 2022. Austin, TX posted the biggest decline, with
America’s Renters Are Moving Less Than Ever, With a Third Staying in the Same Home for at Least 5 Years
33.6% of U.S. renters have lived in the same home for at least five years, up from 28.4% a decade ago. Baby boomers stay put
