Asking Rents Mostly Unchanged Year-over-year

by Calculated Risk on 9/04/2025 12:09:00 PM

Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year

Brief excerpt:

Another monthly update on rents.

Tracking rents is important for understanding the dynamics of the housing market. Slower household formation and increased supply (more multi-family completions) has kept asking rents under pressure.

More recently, immigration policy has become a negative for rentals.

Apartment List: Asking Rent Growth -0.9% Year-over-year …

The national median rent dipped by 0.2% in August, and now stands at $1,400. This was the first month-over-month decline since January, and marks the beginning of the rental market’s off-season. It’s likely that we’ll continue to see further modest rent declines through the remainder of the year.

Realtor.com: 24th Consecutive Month with Year-over-year Decline in Rents

In July 2025, U.S. median rent recorded its 24th consecutive year-over-year decline, marking a two-year streak of downward momentum. Rent for 0-2 bedroom properties across the 50 largest metropolitan areas dropped by 2.5% compared with the previous year, with the median asking rent at $1,712—just $1 more than the prior month.

This is much more in the article.