Tag Archives: Median Rental Price

While rental prices peaked in Q2, they are expected to trend downward in the coming months, as available-for-rent inventory has surged 70% year-over-year. Here’s what else HouseCanary's latest National Rental Report has to reveal.

“Rent growth is likely to continue cooling,” said Redfin Economics Research Lead Chen Zhao.

“Demand for rentals is slowing because economic uncertainty is prompting many renters to stay put, and persistent inflation is shrinking renter budgets. That’s causing rent growth to cool,” said Taylor Marr, Redfin’s Deputy Chief Economist.

While mortgage rates are discouraging buyers' homeownership goals, quickly rising interest rates continue to hamper renters’ already limited buying power in the nation’s most expensive markets.

After more than a year of double-digit yearly rent gains, the U.S. median rental price in September posted its smallest year-over-year increase since last summer, further declining from its peak in July 2022.

As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice.  Renting has traditionally been the cheaper option for ...

The U.S. median rental price hit its latest new high of $1,849 per month in May, representing a 26.6% increase since 2019 before the pandemic began, according to ...