by calculated risk January 7, 2025 01:48:00 PM
In today’s real estate newsletter: Rents were mostly unchanged from the previous year.
Brief excerpt:
Another monthly update on rent.
Tracking rents is important for understanding housing market dynamics. Household formation is slowing and supply is increasing (increasing multifamily completions), forcing rents to remain under pressure. …
Welcome to the January 2025 Apartment List National Rent Report. The 2024 national average monthly rent ended December at $1,373, down 0.6%, or $8, from the previous month. Nationwide, the year-over-year rent growth rate is currently -0.6%, meaning that the average apartment’s current rent is slightly cheaper than a year ago. …
Realtor.com: Rents decline for 16 consecutive months compared to last year
In November 2024, U.S. median rents continued to decline year-over-year for the 16th consecutive month, down $19, or -1.1% year-over-year for 0-2 bedroom properties across the top 50 metros. In October 2024, the rate was -0.8%.
There is much more to this in the article.
