Redfin Reports Asking Rents Tick Up 0.6%, With East Coast and Midwest Metros Posting Biggest Increases
The median rent has stayed largely flat for the past two years, ranging between
“Rents remain stable nationally, but could look very different depending on where you live in the country,” said Redfin Senior Economist
Major Metros With Highest Rent Increases
|
Median Asking |
YoY Change |
|
|
12% |
|
|
11.3% |
|
|
11.1% |
|
|
10.6% |
|
|
9.1% |
|
|
8.3% |
|
|
7.8% |
|
|
7.3% |
|
|
7% |
|
|
6.4% |
Fellow Eastern Seaboard metros
Major Metros With Highest Rent Decreases
|
Median Asking |
YoY Change |
|
|
-11.3% |
|
|
-10.6% |
|
|
-10.4% |
|
|
-9.9% |
|
|
-7.7% |
|
|
-7.5% |
|
|
-5.8% |
|
|
-5.6% |
|
|
-4.6% |
|
|
-4.4% |
Asking rents falling across all bedroom counts
For the second time in three months, asking rents fell across all bedroom counts, something that hadn’t happened in more than four years prior to July.
Median asking rents for 0-1 bedroom apartments fell 0.2% (to
|
Median Asking Rent |
YoY Change |
0-1 |
|
-0.2% |
2 |
|
-0.1% |
3+ |
|
-1.9% |
To view the full report, including charts, methodology and additional metro-level insights, please visit: https://www.redfin.com/news/rental-tracker-september-2024
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
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View source version on businesswire.com: https://www.businesswire.com/news/home/20241010226609/en/
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Source: Redfin