As the largest home rental listing platform in the country, with over 12 million listings, we have access to unique data on rental trends and housing affordability across the country.
Our data helps renters identify the most and least affordable rental markets and view individualized rental market trends based on location as prices of apartments and single-family home rentals continue to fluctuate during the ongoing pandemic.
We break this data down regionally across the US so you can see the trends in rental housing and affordability in your area.
RENTAL MARKET DATA - APRIL '22
When will renters get a break? 24% increase in median asking rent from April 2021 to April 2022
April brought yet another acceleration in asking rent, according to Dwellsy’s analysis of more than 533,000 available rental units. The nationwide median asking rent for April '22 was $1920/mo.
RENTAL MARKET DATA - MARCH '22
Rent Keeps Rolling Uphill: 19% Rent Increase in the Past Year
In March, single-family rentals continued to bear the brunt of rent increases. Over the past year, single-family rent has risen 36% from $1,600 in March of 2021 to $2,175 in March of 2022, while apartment rents have risen just 3.6%.
RENTAL MARKET DATA - FEB '22
Rent Inflation Strikes Again: 17.5% Median Rent Increase Since February 2021
Rent prices continued to grow rapidly in February, with the median U.S. asking rent up 4% vs. January. In the past year, rent has gone up 17.5% to $1,820/mo, an extra $271 per month compared to 2021. Renters now need to spend an extra $3,250/yr on rent compared to this time last year.
RENTAL MARKET DATA - JAN '22
Relentless Rent Rise Continues: 16% since January 2021
In any normal year, a 4.8% rent increase would be a big one for the full year. To see that in a single month is shocking. On top of already significant rent increases in 2021, the total rent increase since January 2021 now tops 16%. That’s an extra $245 that renters now need to come up with each month in order to make their rent payments.
RENTAL MARKET DATA - DEC '21
Inflation Hits Renters: 11% Overall Rent Increase in 2021
Inflation has hit the economy and renters were not immune, experiencing an 11% increase in median asking rent across the country from January to December of 2021. In a “normal year”, 3-4% increase in overall rents is typical. Unfortunately, 2021 is a year for the books in yet another way: The ongoing Covid pandemic has driven this year’s extraordinary rent inflation from start to finish.
RENTAL MARKET DATA - NOV '21
November's Data Shows Surprising Rise in Rent
The average cost of rent across the nation typically decreases towards the end of each year. Unfortunately, the average price of monthly rent rose 8% last month. This shift is likely due to an increase in demand for rental homes. This rise is partially due to a continued shift towards single-family housing such as rental houses and townhomes. Single-family rental prices have actually risen 23% this year. Luckily, many tenants are in the process of moving, which should lead to more vacancies in the rental housing market.
RENTAL MARKET DATA - OCT '21
October's Data Shows Apartment Rental Prices Are Down
October rent shows a fairly normal seasonal shift, with median rent starting to decline from peak summer highs. Median rent across the U.S. decreased from $1,649 in September to $1,600 in October, a fairly sharp decline of 3.0%. Across nearly 360K available rentals in October, Dwellsy continued to see apartment rents more or less flat for the year, while single-family home rentals continue to be the cause of above-normal rent growth in 2021.
RENTAL MARKET DATA - SEP '21
September's Data Shows Apartment Rental Prices Are Down
To the surprise of many, the general rise in rental home prices is not actually reflective of the entire market. This year's overall rent increases are coming solely from single-family rentals (SFR), while apartment home rental prices are actually decreasing. The price of apartments nationwide has actually decreased by 2.3% since January.
Jonas Bordo, Dwellsy co-founder and CEO, says pandemic-fueled desire for more space and controlled access to their homes has driven new demand for SFRs.
"The supply of these properties is relatively unchanged -- maybe even down, due to the hot single-family sales market -- so rent for this asset type has gone through the roof in 2021," he says in the company release.
How we collect our data
Our approach to data collection is different. Because we have a representative sample of in-market asking rents, we can provide the actual data that renters experience when they're looking for a place right now. Oftentimes, statistical analysis uses old data to represent the current market based on a set of assumptions. When you utilize our data sets, you are getting an up-to-date glimpse into the current rental market.