by Calculated Risk on 1/07/2025 01:48:00 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. ...

Welcome to the January 2025 Apartment List National Rent Report. The national median monthly rent closed out 2024 at $1,373 in December, after declining by 0.6 percent, or $8, from the prior month. Year-over-year rent growth nationally also currently stands at -0.6 percent, meaning that the typical apartment is currently renting for slightly less than it was one year ago. ...

Realtor.com: 16th Consecutive Month with Year-over-year Decline in Rents

In November 2024, the U.S. median rent continued to decline year-over-year for the sixteenth month in a row, down $19 or -1.1% year-over-year for 0-2 bedroom properties across the top 50 metros, faster than the rate of -0.8% seen in October 2024.

This is much more in the article.