Realtor.com® April Rental Report: National Rents Drop Again, But Three Midwest Markets Surge to Record Highs
Median rents fell -0.7% in April with renters in pricey Austin,
The median asking rent nationally for 0-2 bedroom units fell by -0.7% from April of last year, to
"In the ever-fluctuating real estate market, renters will find that trends vary significantly by location," said
Renters in some South and West markets see biggest savings; Austin leads the way
The median asking rent for
Three Midwest metros hit record-high rents and more could follow
By contrast, in parts of the Midwest, rents are climbing. The median asking rents hit their highest levels since
Rents decline across all size categories
On average, rents for units of all sizes continued their months-long trend downward in April. Studios saw the biggest drop, with the median asking rent nationwide falling by 1.7% on a year-over-year basis, to
National Rental Data –
Unit Size |
Median Rent |
Rent YoY |
Rent Change – 5 years |
Overall |
|
-0.7 % |
22.5 % |
Studio |
|
-1.7 % |
18.9 % |
1-bed |
|
-1.4 % |
20.9 % |
2-bed |
|
-0.7 % |
24.4 % |
Rental Data – 50 Largest Metropolitan Areas –
Metro |
Median |
YoY (0-2 |
Peak Rent since Mar. |
|
-5.6 % |
|
|
|
-8.3 % |
|
|
|
-5.6 % |
|
|
|
1.5 % |
|
|
|
-1.7 % |
|
|
NA |
NA |
NA |
|
|
-5.6 % |
|
|
|
1.4 % |
|
|
|
1.0 % |
|
|
|
2.1 % |
|
|
|
-1.1 % |
|
|
|
-2.8 % |
|
|
|
-0.8 % |
|
|
|
0.6 % |
|
|
NA |
NA |
NA |
|
|
-2.7 % |
|
|
|
4.5 % |
|
|
|
-3.0 % |
|
|
|
-2.3 % |
|
|
|
-4.0 % |
|
|
|
-2.2 % |
|
|
|
-3.5 % |
|
|
|
-4.9 % |
|
|
|
-4.3 % |
|
|
|
3.8 % |
|
|
|
2.5 % |
|
|
|
-8.4 % |
|
|
NA |
NA |
NA |
|
|
4.1 % |
|
|
|
0.5 % |
|
|
|
-5.9 % |
|
|
|
1.5 % |
|
|
|
-4.6 % |
|
|
|
1.6 % |
|
|
|
2.5 % |
|
|
NA |
NA |
NA |
|
|
-5.3 % |
|
|
|
-3.0 % |
|
|
|
-0.8 % |
|
|
NA |
NA |
NA |
|
|
3.0 % |
|
|
|
-8.1 % |
|
|
|
-0.3 % |
|
|
|
-4.3 % |
|
|
|
3.7 % |
|
|
|
-0.3 % |
|
|
|
-1.6 % |
|
|
|
-2.5 % |
|
|
|
2.4 % |
|
|
|
1.3 % |
|
Methodology
Rental data as of
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