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Redfin Report: U.S. Asking Rents Rose 0.4% in February—A Small Increase, But the First in 6 Months

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Redfin (NASDAQ: RDFN) reports that U.S. median asking rents increased 0.4% year-over-year to $1,607 in February, marking the first increase in six months and the largest in nine months. Monthly rents rose 0.6%.

The rental market has stabilized after experiencing extreme fluctuations, from an 18% surge during the 2021 pandemic to a 4% decline in 2023. According to Redfin Senior Economist Sheharyar Bokhari, while current supply and demand are balanced, slowing apartment construction could lead to supply constraints by next year.

Key market variations include:

  • Largest declines: Austin (-9.4%), Salt Lake City (-7.8%), Jacksonville (-6.7%)
  • Biggest increases: Cincinnati (15.3%), Providence (12.4%), Baltimore (9.6%)
  • By unit size: 0-1 bedrooms up 0.4% to $1,467; 2 bedrooms up 0.6% to $1,689; 3+ bedrooms down 0.5% to $1,990

Redfin (NASDAQ: RDFN) riporta che i canoni di affitto medi negli Stati Uniti sono aumentati dello 0,4% su base annua, raggiungendo $1.607 a febbraio, segnando il primo incremento dopo sei mesi e il più grande in nove mesi. I canoni mensili sono aumentati dello 0,6%.

Il mercato degli affitti si è stabilizzato dopo aver subito fluttuazioni estreme, da un aumento del 18% durante la pandemia del 2021 a un calo del 4% nel 2023. Secondo l'economista senior di Redfin, Sheharyar Bokhari, mentre l'attuale offerta e domanda sono bilanciate, il rallentamento nella costruzione di appartamenti potrebbe portare a vincoli di offerta entro l'anno prossimo.

Le principali variazioni di mercato includono:

  • Le maggiori diminuzioni: Austin (-9,4%), Salt Lake City (-7,8%), Jacksonville (-6,7%)
  • I maggiori aumenti: Cincinnati (15,3%), Providence (12,4%), Baltimora (9,6%)
  • Per dimensione dell'unità: 0-1 camere da letto in aumento dello 0,4% a $1.467; 2 camere da letto in aumento dello 0,6% a $1.689; 3+ camere da letto in calo dello 0,5% a $1.990

Redfin (NASDAQ: RDFN) informa que los alquileres medianos en EE. UU. aumentaron un 0,4% interanual, alcanzando $1,607 en febrero, marcando el primer incremento en seis meses y el más grande en nueve meses. Los alquileres mensuales subieron un 0,6%.

El mercado de alquileres se ha estabilizado tras experimentar fluctuaciones extremas, desde un aumento del 18% durante la pandemia de 2021 hasta una disminución del 4% en 2023. Según el economista senior de Redfin, Sheharyar Bokhari, aunque la oferta y la demanda actuales están equilibradas, la desaceleración en la construcción de apartamentos podría llevar a restricciones de oferta para el próximo año.

Las principales variaciones del mercado incluyen:

  • Las mayores caídas: Austin (-9,4%), Salt Lake City (-7,8%), Jacksonville (-6,7%)
  • Los mayores aumentos: Cincinnati (15,3%), Providence (12,4%), Baltimore (9,6%)
  • Por tamaño de unidad: 0-1 dormitorios subieron un 0,4% a $1,467; 2 dormitorios subieron un 0,6% a $1,689; 3+ dormitorios bajaron un 0,5% a $1,990

Redfin (NASDAQ: RDFN)는 미국의 중간 임대료가 작년 대비 0.4% 증가하여 2월에 $1,607에 이르렀다고 보고하며, 이는 6개월 만의 첫 증가이자 9개월 만의 최대 증가입니다. 월세는 0.6% 상승했습니다.

임대 시장은 2021년 팬데믹 동안 18% 급증한 후 2023년에 4% 감소하는 극단적인 변동을 겪은 후 안정세를 보이고 있습니다. Redfin의 수석 경제학자 Sheharyar Bokhari에 따르면, 현재 공급과 수요는 균형을 이루고 있지만, 아파트 건설의 둔화는 내년 공급 제약으로 이어질 수 있습니다.

주요 시장 변동 사항은 다음과 같습니다:

  • 가장 큰 감소: 오스틴 (-9.4%), 솔트레이크시티 (-7.8%), 잭슨빌 (-6.7%)
  • 가장 큰 증가: 신시내티 (15.3%), 프로비던스 (12.4%), 볼티모어 (9.6%)
  • 유닛 크기별: 0-1 침실은 0.4% 증가하여 $1,467; 2 침실은 0.6% 증가하여 $1,689; 3개 이상의 침실은 0.5% 감소하여 $1,990

Redfin (NASDAQ: RDFN) rapporte que les loyers médians aux États-Unis ont augmenté de 0,4% d'une année sur l'autre pour atteindre $1,607 en février, marquant la première augmentation en six mois et la plus importante en neuf mois. Les loyers mensuels ont augmenté de 0,6%.

Le marché locatif s'est stabilisé après avoir connu des fluctuations extrêmes, passant d'une hausse de 18% pendant la pandémie de 2021 à une baisse de 4% en 2023. Selon l'économiste senior de Redfin, Sheharyar Bokhari, bien que l'offre et la demande actuelles soient équilibrées, un ralentissement de la construction d'appartements pourrait entraîner des contraintes d'offre d'ici l'année prochaine.

Les principales variations du marché incluent:

  • Les plus grandes baisses : Austin (-9,4%), Salt Lake City (-7,8%), Jacksonville (-6,7%)
  • Les plus grandes augmentations : Cincinnati (15,3%), Providence (12,4%), Baltimore (9,6%)
  • Par taille d'unité : 0-1 chambre en hausse de 0,4% à $1,467; 2 chambres en hausse de 0,6% à $1,689; 3+ chambres en baisse de 0,5% à $1,990

Redfin (NASDAQ: RDFN) berichtet, dass die mittleren Mietpreise in den USA im Jahresvergleich um 0,4% auf $1.607 im Februar gestiegen sind, was den ersten Anstieg seit sechs Monaten und den größten Anstieg seit neun Monaten markiert. Die monatlichen Mieten stiegen um 0,6%.

Der Mietmarkt hat sich stabilisiert, nachdem er extreme Schwankungen erlebt hat, von einem Anstieg von 18% während der Pandemie 2021 bis zu einem Rückgang von 4% im Jahr 2023. Laut dem leitenden Ökonomen von Redfin, Sheharyar Bokhari, sind Angebot und Nachfrage derzeit im Gleichgewicht, jedoch könnte eine Verlangsamung des Wohnungsbaus im nächsten Jahr zu Angebotsengpässen führen.

Wichtige Marktvariationen umfassen:

  • Größte Rückgänge: Austin (-9,4%), Salt Lake City (-7,8%), Jacksonville (-6,7%)
  • Größte Anstiege: Cincinnati (15,3%), Providence (12,4%), Baltimore (9,6%)
  • Nach Wohnungsgröße: 0-1 Schlafzimmer um 0,4% auf $1.467 gestiegen; 2 Schlafzimmer um 0,6% auf $1.689 gestiegen; 3+ Schlafzimmer um 0,5% auf $1.990 gesunken

Positive
  • First rent increase in 6 months (+0.4% YoY)
  • Month-over-month rent growth of 0.6%
  • Market stabilization after previous volatility
Negative
  • Slowing apartment construction signals potential supply constraints
  • 3+ bedroom apartment rents still declining (-0.5%)
  • Some major markets showing significant rent decreases (Austin -9.4%)

Landlords may have more leeway to raise rents next year because apartment construction is slowing, which could eventually lead to more renters than vacant units

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — The median U.S. asking rent rose 0.4% year over year to $1,607 in February—the first increase in six months and the biggest in nine months. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. On a month-over-month basis, asking rents climbed 0.6%.

Though asking rents inched up in February, they’ve been relatively flat for the past 10 months compared to the large swings of the past few years. Rents skyrocketed as much as 18% year over year during the pandemic moving frenzy in 2021, and then fell as much as 4% in 2023. Asking rents are now flattening because rental supply and demand are near equilibrium.

“The era of big rent declines is over for most of the country,” said Redfin Senior Economist Sheharyar Bokhari. “A ton of new apartments have hit the market, and demand for those apartments is strong because it’s so expensive to buy a home. But apartment construction is starting to slow, which means there may be more renters than apartments to go around as soon as next year. That could cause rents to tick up and the perks that many renters have grown accustomed to—like free parking—to disappear.”

Asking rents drop most in Austin, rise most in Cincinnati

In Austin, TX, the median asking rent dropped 9.4% year over year in February to $1,404—the largest decline among the 44 major U.S. metropolitan areas Redfin analyzed. It’s now 22% below its August 2023 record high.

Salt Lake City was home to the second largest decline (-7.8%), followed by Jacksonville, FL (-6.7%), Minneapolis (-5.9%) and San Diego (-5.6%).

Asking rents have been falling quickly in parts of Texas and Florida because those states have been building more housing than other states. Florida has also been grappling with intensifying natural disasters, which has made some people hesitant to live there.

Rents rose most in Cincinnati (15.3%), Providence, RI (12.4%), Baltimore (9.6%), Washington, D.C. (9.2%) and Cleveland (8.5%).

Asking rents tick up for smaller apartments, but tick down for larger apartments

The median asking rent for 0-1 bedroom apartments rose 0.4% year over year to $1,467—the first increase since June. The median asking rent for 2 bedroom apartments rose 0.6% to $1,689—also the first increase since June.

The median asking rent for 3+ bedroom apartments fell 0.5% to $1,990, though that was the smallest decline in months.

To view the full report, including charts and methodology, please visit:
https://www.redfin.com/news/rental-tracker-february-2025

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, and title insurance 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. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

Contact Redfin

Redfin Journalist Services:

Kenneth Applewhaite

press@redfin.com

Source: Redfin

FAQ

What was the median asking rent increase for U.S. properties in February 2024 according to Redfin (RDFN)?

Redfin reported a 0.4% year-over-year increase to $1,607 in February, the first increase in six months.

Which U.S. cities experienced the largest rent decreases in February 2024 according to RDFN data?

Austin led with a 9.4% decrease, followed by Salt Lake City (-7.8%) and Jacksonville (-6.7%).

How much did apartment rents increase in Cincinnati according to the latest Redfin report?

Cincinnati saw the highest rent increase among major metros, with a 15.3% year-over-year rise.

What are the current rental trends for different apartment sizes according to RDFN's February report?

0-1 bedrooms rose 0.4% to $1,467, 2 bedrooms increased 0.6% to $1,689, while 3+ bedrooms declined 0.5% to $1,990.

Why might rental rates increase in 2025 according to Redfin's analysis?

Slowing apartment construction could lead to demand exceeding supply, potentially causing rent increases and fewer tenant perks.

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