Redfin Reports Asking Rents Tick Up 0.6%, With East Coast and Midwest Metros Posting Biggest Increases
Redfin reports that the typical U.S. asking rent increased by 0.6% year over year in September to $1,634, with East Coast and Midwest metros seeing the largest increases. Washington, D.C. recorded the highest rent increase of 12% to $2,088, while Jacksonville, FL saw the biggest decrease of 11.3% to $1,485. The median rent has remained relatively stable over the past two years, ranging between $1,599 and $1,663.
Sun Belt states dominated the metros with the largest rent declines. Asking rents fell across all bedroom counts, with 3+ bedroom apartments experiencing the largest decrease of 1.9% to $1,995. Redfin Senior Economist Sheharyar Bokhari noted that rent stability varies by location, with less construction activity in the East Coast and Midwest leading to rising rents, while Sun Belt cities with post-pandemic construction booms are seeing faster rent decreases.
Redfin riporta che l'affitto medio negli Stati Uniti è aumentato del 0,6% su base annua a settembre, raggiungendo $1,634, con le aree metropolitane della Costa Est e del Midwest che hanno registrato i maggiori aumenti. Washington, D.C. ha registrato l'aumento degli affitti più alto, con un 12% fino a $2,088, mentre Jacksonville, FL ha visto la maggiore diminuzione, con un 11,3% fino a $1,485. L'affitto medio è rimasto relativamente stabile negli ultimi due anni, oscillando tra $1,599 e $1,663.
Negli stati del Sun Belt si trovano le aree metropolitane con le maggiori diminuzioni degli affitti. Gli affitti sono diminuiti in tutte le tipologie di appartamenti, con quelli con 3 o più camere da letto che hanno registrato il calo più significativo del 1,9% fino a $1,995. L'economista senior di Redfin, Sheharyar Bokhari, ha osservato che la stabilità degli affitti varia a seconda della località, con meno attività edilizia nella Costa Est e nel Midwest che porta a un aumento degli affitti, mentre le città del Sun Belt, con boom edilizi post-pandemia, stanno vivendo riduzioni più rapide degli affitti.
Redfin informa que el alquiler típico en EE. UU. aumentó 0.6% interanual en septiembre, alcanzando $1,634, siendo las áreas metropolitanas de la Costa Este y del Medio Oeste las que registraron los mayores incrementos. Washington D.C. reportó el mayor aumento de alquiler, con un 12% hasta $2,088, mientras que Jacksonville, FL, vio la mayor disminución con un 11.3% hasta $1,485. El alquiler medio se ha mantenido relativamente estable en los últimos dos años, oscilando entre $1,599 y $1,663.
Los estados del Sun Belt dominaron las áreas metropolitanas con las mayores caídas en los alquileres. Los precios de los alquileres disminuyeron en todos los tipos de habitaciones, con los apartamentos de 3 o más habitaciones experimentando la mayor disminución de 1.9% hasta $1,995. El economista senior de Redfin, Sheharyar Bokhari, señaló que la estabilidad del alquiler varía según la ubicación, con menos actividad de construcción en la Costa Este y el Medio Oeste que lleva a un aumento de los alquileres, mientras que las ciudades del Sun Belt con un auge constructivo post-pandemia están viendo caídas más rápidas en los alquileres.
Redfin은 미국의 평균 임대료가 9월에 전년 대비 0.6% 증가하여 $1,634에 도달했다고 보고했습니다. 동부 해안과 중서부 지역의 대도시에서 가장 큰 증가가 있었습니다. 워싱턴 D.C.는 12% 증가하여 $2,088으로 가장 큰 임대료 증가율을 기록했으며, 플로리다주 잭슨빌은 11.3% 감소하여 $1,485로 가장 큰 감소를 보였습니다. 지난 2년간 중간 임대료는 $1,599에서 $1,663 사이에서 비교적 안정세를 유지했습니다.
햇볕이 잘 드는 주(Sun Belt states)는 가장 큰 임대료 감소가 나타난 대도시를 차지했습니다. 모든 침실 수에서 임대료가 하락했으며, 3개 이상의 침실 아파트가 1.9% 감소하여 $1,995로 가장 큰 감소율을 보였습니다. Redfin의 수석 경제학자인 Sheharyar Bokhari는 임대료의 안정성이 지역에 따라 다르다고 언급하며, 동부 해안과 중서부의 건설 활동이 적어 임대료가 상승하는 반면, 팬데믹 이후 건설 붐을 겪고 있는 햇볕이 잘 드는 도시에서는 임대료가 더 빠르게 하락하고 있다고 설명했습니다.
Redfin rapporte que le loyer typique aux États-Unis a augmenté de 0,6% d'une année sur l'autre en septembre, atteignant $1,634, les métropoles de la côte est et du Midwest enregistrant les plus fortes hausses. Washington, D.C. a enregistré la plus forte augmentation de loyer avec 12% jusqu'à $2,088, tandis que Jacksonville, FL a connu la plus importante baisse de 11,3% jusqu'à $1,485. Le loyer médian est resté relativement stable au cours des deux dernières années, variant entre $1,599 et $1,663.
Les états du Sun Belt ont dominé les métros avec les plus fortes baisses de loyer. Les prix des loyers ont diminué dans toutes les catégories de chambres, les appartements de 3 chambres ou plus ayant connu la plus forte baisse de 1,9% jusqu'à $1,995. L'économiste senior de Redfin, Sheharyar Bokhari, a noté que la stabilité des loyers varie selon l'emplacement, une activité de construction moindre sur la côte est et dans le Midwest entraînant une hausse des loyers, tandis que les villes du Sun Belt, avec des boums de construction post-pandémiques, connaissent des baisses de loyer plus rapides.
Redfin berichtet, dass die typischen Mietpreise in den USA im September um 0,6% im Vergleich zum Vorjahr gestiegen sind und $1,634 erreicht haben, wobei die größten Anstiege in den Metropolregionen an der Ostküste und im Mittleren Westen zu verzeichnen waren. Washington, D.C. verzeichnete den höchsten Mietsteigerungswert mit 12% auf $2,088, während Jacksonville, FL, den größten Rückgang von 11,3% auf $1,485 erlebte. Die Medianmiete blieb in den letzten zwei Jahren relativ stabil und schwankte zwischen $1,599 und $1,663.
Die Bundesstaaten im Sun Belt dominierten die Metros mit den größten Mietrückgängen. Die Mietpreise fielen in allen Schlafzimmerkategorien, wobei Wohnungen mit 3 oder mehr Schlafzimmern den größten Rückgang von 1,9% auf $1,995 verzeichneten. Der leitende Ökonom von Redfin, Sheharyar Bokhari, stellte fest, dass die Stabilität der Mieten je nach Standort variiert, und weniger Bautätigkeit an der Ostküste und im Mittleren Westen zu steigenden Mieten führt, während Städte im Sun Belt mit einem Bau-Boom nach der Pandemie schnellere Mietrückgänge erleben.
- Typical U.S. asking rent increased 0.6% year over year to $1,634
- Washington, D.C. posted the highest rent increase of 12% to $2,088
- Wages are growing around 4% year over year, making rent more affordable than two years ago
- Jacksonville, FL saw the biggest rent decrease of 11.3% to $1,485
- Asking rents fell across all bedroom counts, with 3+ bedroom apartments decreasing 1.9% to $1,995
- Sun Belt states dominated the metros with the largest rent declines
Insights
The rental market is showing divergent trends across regions, reflecting local economic conditions and construction activity. Key observations:
- National median asking rent increased
0.6% year-over-year to$1,634 , indicating overall stability. - East Coast and Midwest metros are experiencing higher rent growth, with Washington, D.C. leading at
12% YoY increase. - Sun Belt markets are seeing significant rent declines, with Jacksonville, FL dropping
11.3% YoY. - All bedroom types saw slight decreases in asking rents, particularly 3+ bedrooms at
-1.9% YoY.
These trends suggest a rebalancing of the rental market post-pandemic, with previous hot spots cooling and traditionally stable markets gaining ground. Investors should monitor local supply-demand dynamics and economic factors driving these regional differences.
The rental market data reveals important economic indicators:
- Rent affordability is improving, with wages growing at
4% YoY while rents remain relatively flat. - Regional disparities highlight the impact of post-pandemic migration and construction patterns.
- The cooling in Sun Belt markets may indicate a normalization after the pandemic-induced boom.
- East Coast and Midwest rent increases could reflect tighter housing supply and potentially stronger job markets in these regions.
For investors, this suggests opportunities in markets with rising rents and stable economies, while cautioning against overexposure in rapidly cooling markets. The overall stability in national rents, despite regional variations, indicates a resilient housing market amidst economic uncertainties.
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 Sheharyar Bokhari. “On the East Coast and in the Midwest, there hasn’t been as much building activity, so asking rents are rising. Meanwhile, if you’re in a Sun Belt city where construction boomed following the pandemic, rents are now falling pretty fast.”
Major Metros With Highest Rent Increases
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Median Asking Rent (Sept) |
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Fellow Eastern Seaboard metros
Sun Belt states dominated the major metros with the biggest rent declines, led by
Major Metros With Highest Rent Decreases
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Median Asking Rent (Sept) |
YoY Change |
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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
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Median Asking Rent |
YoY Change |
0-1 Bedroom Apartments |
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2 Bedroom Apartments |
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3+ Bedroom Apartments |
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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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241010226609/en/
Redfin Journalist Services:
Kenneth Applewhaite
press@redfin.com
Source: Redfin
FAQ
What was the year-over-year change in U.S. asking rent for September according to Redfin (RDFN)?
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