U.S. Rental Market Softens as Sunbelt Leads Decline

Executive Summary

The U.S. rental market faced its own set of challenges in 2024. Elevated mortgage rates and high home prices kept many Americans renting—bolstering tenant demand—while a surge of new supply in key metros pushed against rising rents. Parcl Labs' real-time rental price feeds cut through the noise, tracking daily movements across U.S. markets through December 2024, to reveal exactly how these competing forces played out.

This analysis continues our 2024 housing market review series, powered by Parcl Labs API, following our previous deep dive into home prices. By examining rental trends alongside for-sale dynamics, we gain a clearer view of the entire US housing ecosystem and the broader economic landscape.

Today's focus: rental rates across 49 major U.S. metros and the USA covered by the Parcl Labs Rental Price Feed.

Here's what we found:

U.S. rental prices declined in 2024. National rental price per square foot, as measured by our daily updating rental price feed, declined -0.91% year-over-year (YoY) and -0.07% year-to-date (YTD). Although rents remain 17.72% above March 2020 levels, current prices are now -8.26% below their peak, indicating a sustained period of rental price moderation since 2022.

Broad-based weakness emerged across major metros. Among the 49 U.S. metros covered, 21 posted negative YoY growth, with 15 down by -1% or more. This finding confirms that the slowdown is both material and widespread.

Texas and Florida led the downturn, accounting for 9 of the 15 weakest rental markets. In Texas, Austin fell -4.94% YoY, San Antonio declined -3.58% YoY, and Dallas was down -1.41% YoY. In Florida, 7 of 10 markets recorded negative YoY growth: North Port (-6.24%), Tampa (-4.08%), Deltona (-2.21%), Miami (-1.85%), Jacksonville (-1.65%), Lakeland (-1.00%), and Crestview (-0.50%).

Markets with significant institutional presence also struggled. Five of six major institutional investment hubs—Tampa, Dallas, Phoenix, Atlanta, and Charlotte—exhibited negative or minimal rental growth, reflecting a cooling dynamic in metros historically favored by large-scale investors.

In contrast, the Midwest was a bright spot, demonstrating rental price resilience. Five of the top 10 performers hailed from this region: Louisville (+9.15% YoY), Cincinnati (+5.38% YoY), Cleveland (+4.98% YoY), Indianapolis (+4.95% YoY), and Chicago (+4.68% YoY). This pattern aligns with the Midwest’s broader strength observed in for-sale housing markets.

Comparing home prices and rental rates revealed compelling regional patterns in 2024. While the U.S. rental market declined -0.91% YoY, home prices increased +2.58% YoY.

A geographically diverse set of markets demonstrated synchronized growth across both metrics, with notable performers including Cleveland (rents +4.98%, sales +8.60%), Providence (rents +4.42%, sales +7.99%), Pittsburgh (rents +4.20%, sales +7.26%), Chicago (rents +4.68%, sales +5.39%), and San Jose (rents +3.13%, sales +6.75%).

However, the most pronounced trend emerged in markets showing synchronized declines, heavily concentrated in the Sunbelt. Austin (rents -4.94%, sales -6.17%) and Tampa (rents -4.08%, sales -2.97%) exemplify this pattern of coordinated price weakness - a trend we've highlighted throughout 2024.

Parcl Labs has extensively studied the relationship between home prices and rental rates. With rents declining while home values rose in 2024, this divergence warrants continued analysis into 2025.

Want to see how the rental market finished 2024 in your area? Below we provide scorecards for the US and all 49 metro areas covered by our rental price feed - complete with performance metrics and detailed price charts for each market.

These trends don't stop with year-end. Our real-time rental price feeds track market movements daily, giving you the most current view of housing dynamics. Access this data directly through the Parcl Labs API and stay ahead of market shifts in 2025.

2024 US Rental Price Market Scorecard: US Metro Analysis

United States Home Price Trends 2024

U.S. rents edged down 0.07% YTD while sitting 8.26% below their peak, with negative year-over-year performance (-0.91%).

📊 Quick Stats:

⬇️ -0.21% Month over Month

⬇️ -0.91% Year over Year

⬇️ -0.07% Year to Date

⬇️ -8.26% From Peak

📈 +17.72% Since March 2020

The U.S. rental price feed reveals distinct year-over-year pattern shifts. 2022 showed consistent upward momentum, with appreciation accelerating from spring through summer to reach double-digit YTD gains. In contrast, 2023 began with negative growth through Q1, followed by modest but stable appreciation around 2% through summer before turning negative again in Q4. 2024 charted a middle path early on, maintaining YTD gains between 2-4% through mid-year, but then demonstrated weakness as gains eroded in the second half, marking a clear deceleration from both prior years' patterns. Notably, both 2023 and 2024 traced more compressed paths compared to 2022's expansion.

U.S. rents diverged from home prices, declining 0.91% year-over-year while home values rose 2.58%.

Atlanta Rental Market Trends 2024

Atlanta rents rose marginally by 0.27% YTD while sitting 7.04% below their peak, with near-flat year-over-year performance (-0.09%).

📊 Quick Stats:

⬇️ -0.89% Month over Month

⬇️ -0.09% Year over Year

⬆️ +0.27% Year to Date

⬇️ -7.04% From Peak

📈 +30.74% Since March 2020

Atlanta home prices grew 2.86% more than rents over the past year, with home values up 2.77% while rents declined slightly (-0.09%).

Austin Rental Market Trends 2024

Austin rents declined 4.8% YTD while sitting 15.2% below their peak, with significant year-over-year drops (-4.94%).

📊 Quick Stats:

⬇️ -11.91% Month over Month

⬇️ -4.94% Year over Year

⬇️ -4.80% Year to Date

⬇️ -15.20% From Peak

📈 +8.70% Since March 2020

Austin rents tracked home prices downward but with less severity, declining 4.94% year-over-year compared to a 6.17% drop in home values.

Boise City Rental Market Trends 2024

Boise rents increased 1.66% YTD while sitting 5.6% below their peak, with positive year-over-year growth (+3.06%).

📊 Quick Stats:

⬇️ -0.81% Month over Month

⬆️ +3.06% Year over Year

⬆️ +1.66% Year to Date

⬇️ -5.60% From Peak

📈 +30.84% Since March 2020

Boise home prices grew 0.15 percentage points more than rents over the past year, with home values up 3.21% while rents increased 3.06%.

Boston Rental Market Trends 2024

Boston rents declined 0.49% YTD while sitting 34.17% below their peak, with negative year-over-year performance (-1.37%).

📊 Quick Stats:

⬆️ +1.70% Month over Month

⬇️ -1.37% Year over Year

⬇️ -0.49% Year to Date

⬇️ -34.17% From Peak

⬇️ -6.35% Since March 2020Boston home prices outpaced rents significantly over the past year, with home values up 4.02% while rents declined 1.37%.

Boulder Rental Market Trends 2024

Boulder rents increased 4.5% YTD while sitting 1.5% below their peak, with modest year-over-year growth (+1.60%).

📊 Quick Stats:

⬆️ +1.98% Month over Month

⬆️ +1.60% Year over Year

⬆️ +4.50% Year to Date

⬇️ -1.50% From Peak

📈 +16.61% Since March 2020

Boulder rents moved counter to home prices, with rents growing 1.60% year-over-year while home values fell 9.59%.

Charleston Rental Market Trends 2024

Charleston rents rose 3.92% YTD while sitting 5.67% below their peak, with moderate year-over-year growth (+2.89%).

📊 Quick Stats:

⬆️ +0.26% Month over Month

⬆️ +2.89% Year over Year

⬆️ +3.92% Year to Date

⬇️ -5.67% From Peak

📈 +21.33% Since March 2020

Charleston rents lagged home price appreciation, rising 2.89% year-over-year compared to a robust 9.69% gain in home values.

Charlotte Rental Market Trends 2024

Charlotte rents increased marginally by 0.62% YTD while sitting 5.22% below their peak, with minimal year-over-year growth (+0.44%).

📊 Quick Stats:

⬇️ -1.21% Month over Month

⬆️ +0.44% Year over Year

⬆️ +0.62% Year to Date

⬇️ -5.22% From Peak

📈 +30.30% Since March 2020

Charlotte rents moved directionally with home prices but showed less strength, rising 0.44% year-over-year versus 2.78% for home values.

Chicago Rental Market Trends 2024

Chicago rents increased 3.84% YTD while sitting 7.41% below their peak, with solid year-over-year growth (+4.68%).

📊 Quick Stats:

⬇️ -3.26% Month over Month

⬆️ +4.68% Year over Year

⬆️ +3.84% Year to Date

⬇️ -7.41% From Peak

📈 +14.90% Since March 2020

Chicago rents closely tracked home price appreciation, rising 4.68% year-over-year compared to 5.39% for home values.

Cincinnati Rental Market Trends 2024

Cincinnati rents rose 3.77% YTD while sitting just 0.23% below their peak, with strong year-over-year growth (+5.38%).

📊 Quick Stats:

⬆️ +1.09% Month over Month

⬆️ +5.38% Year over Year

⬆️ +3.77% Year to Date

⬇️ -0.23% From Peak

📈 +38.59% Since March 2020

Cincinnati rents outpaced home prices significantly, rising 5.38% year-over-year compared to a modest 1.51% gain in home values.

Cleveland Rental Market Trends 2024

Cleveland rents increased 6.04% YTD while sitting just 0.26% below their peak, with robust year-over-year growth (+4.98%).

📊 Quick Stats:

⬇️ -0.09% Month over Month

⬆️ +4.98% Year over Year

⬆️ +6.04% Year to Date

⬇️ -0.26% From Peak

📈 +35.71% Since March 2020

Cleveland rents showed strong growth but still trailed home prices, rising 4.98% year-over-year compared to an even stronger 8.60% gain in home values.

Columbus Rental Market Trends 2024

Columbus rents rose 3.23% YTD while sitting 2.36% below their peak, with solid year-over-year growth (+4.07%).

📊 Quick Stats:

⬇️ -1.61% Month over Month

⬆️ +4.07% Year over Year

⬆️ +3.23% Year to Date

⬇️ -2.36% From Peak

📈 +31.96% Since March 2020

Columbus rents moved in parallel with home prices but with less intensity, rising 4.07% year-over-year compared to 5.86% for home values.

Crestview Rental Market Trends 2024

Crestview rents rose 1.46% YTD while sitting 9.62% below their peak, with slight year-over-year declines (-0.50%).

📊 Quick Stats:

⬇️ -0.22% Month over Month

⬇️ -0.50% Year over Year

⬆️ +1.46% Year to Date

⬇️ -9.62% From Peak

📈 +20.12% Since March 2020

Crestview rents showed more resilience than home prices, declining 0.50% year-over-year compared to a steeper 5.88% drop in home values.

Dallas Rental Market Trends 2024

Dallas rents declined 1.02% YTD while sitting 10.09% below their peak, with negative year-over-year performance (-1.41%).

📊 Quick Stats:

⬇️ -9.50% Month over Month

⬇️ -1.41% Year over Year

⬇️ -1.02% Year to Date

⬇️ -10.09% From Peak

📈 +25.32% Since March 2020

Dallas rents moved counter to home prices, declining 1.41% year-over-year while home values rose 2.77%.

Deltona Rental Market Trends 2024

Deltona rents declined 2.43% YTD while sitting 7.28% below their peak, with negative year-over-year performance (-2.21%).

📊 Quick Stats:

⬇️ -0.45% Month over Month

⬇️ -2.21% Year over Year

⬇️ -2.43% Year to Date

⬇️ -7.28% From Peak

📈 +31.71% Since March 2020

Deltona rents declined in tandem with home prices, falling 2.21% year-over-year compared to a 1.48% drop in home values.

Denver Rental Market Trends 2024

Denver rents increased 4.03% YTD while sitting 2.95% below their peak, with solid year-over-year growth (+3.46%).

📊 Quick Stats:

⬆️ +1.09% Month over Month

⬆️ +3.46% Year over Year

⬆️ +4.03% Year to Date

⬇️ -2.95% From Peak

📈 +21.27% Since March 2020

Denver rents moved opposite to home prices, rising 3.46% year-over-year while home values fell 4.56%.

Detroit Rental Market Trends 2024

Detroit rents rose 2.88% YTD while sitting 4.03% below their peak, with moderate year-over-year growth (+1.72%).

📊 Quick Stats:

⬇️ -1.74% Month over Month

⬆️ +1.72% Year over Year

⬆️ +2.88% Year to Date

⬇️ -4.03% From Peak

📈 +34.76% Since March 2020

Detroit rents significantly trailed home price gains, rising 1.72% year-over-year compared to a robust 9.61% increase in home values.

Houston Rental Market Trends 2024

Houston rents rose marginally by 0.71% YTD while sitting 7.56% below their peak, with modest year-over-year growth (+1.61%).

📊 Quick Stats:

⬇️ -7.56% Month over Month

⬆️ +1.61% Year over Year

⬆️ +0.71% Year to Date

⬇️ -7.56% From Peak

📈 +19.06% Since March 2020

Houston rents lagged home price growth, rising 1.61% year-over-year compared to 4.51% for home values.

Indianapolis Rental Market Trends 2024

Indianapolis rents increased 5.05% YTD while sitting 4.76% below their peak, with strong year-over-year growth (+4.95%).

📊 Quick Stats:

⬇️ -1.03% Month over Month

⬆️ +4.95% Year over Year

⬆️ +5.05% Year to Date

⬇️ -4.76% From Peak

📈 +33.00% Since March 2020

Indianapolis rents tracked directionally with home prices but with less strength, rising 4.95% year-over-year versus 7.28% for home values.

Jacksonville Rental Market Trends 2024

Jacksonville rents declined 0.67% YTD while sitting 7.10% below their peak, with negative year-over-year performance (-1.65%).

📊 Quick Stats:

⬇️ -0.42% Month over Month

⬇️ -1.65% Year over Year

⬇️ -0.67% Year to Date

⬇️ -7.10% From Peak

📈 +26.30% Since March 2020

Jacksonville rents declined slightly more than home prices, falling 1.65% year-over-year compared to a 1.32% drop in home values.

Lakeland Rental Market Trends 2024

Lakeland rents declined 0.42% YTD while sitting 7.10% below their peak, with slight year-over-year declines (-1.00%).

📊 Quick Stats:

⬇️ -0.25% Month over Month

⬇️ -1.00% Year over Year

⬇️ -0.42% Year to Date

⬇️ -7.10% From Peak

📈 +30.91% Since March 2020

Lakeland rents showed marginally more resilience than home prices, declining 1.00% year-over-year versus a 1.82% drop in home values.

Las Vegas Rental Market Trends 2024

Las Vegas rents rose 1.21% YTD while sitting 7.04% below their peak, with moderate year-over-year growth (+2.03%).

📊 Quick Stats:

⬇️ -2.03% Month over Month

⬆️ +2.03% Year over Year

⬆️ +1.21% Year to Date

⬇️ -7.04% From Peak

📈 +26.64% Since March 2020

Las Vegas rents tracked behind home prices, rising 2.03% year-over-year compared to a stronger 3.79% gain in home values.

Los Angeles Rental Market Trends 2024

Los Angeles rents increased 6.32% YTD while sitting just 0.03% below their peak, with robust year-over-year growth (+5.56%).

📊 Quick Stats:

⬆️ +2.50% Month over Month

⬆️ +5.56% Year over Year

⬆️ +6.32% Year to Date

⬇️ -0.03% From Peak

📈 +18.48% Since March 2020

Los Angeles rents outpaced home prices significantly, rising 5.56% year-over-year compared to a more modest 2.25% gain in home values.

Louisville Rental Market Trends 2024

Louisville rents rose 9.45% YTD while sitting 3.06% below their peak, with strong year-over-year growth (+9.15%).

📊 Quick Stats:

⬇️ -3.06% Month over Month

⬆️ +9.15% Year over Year

⬆️ +9.45% Year to Date

⬇️ -3.06% From Peak

📈 +27.51% Since March 2020

Louisville rents substantially outperformed home prices, surging 9.15% year-over-year versus a 3.20% increase in home values.

Madison Rental Market Trends 2024

Madison rents declined 5.56% YTD while sitting 12.42% below their peak, with significant year-over-year declines (-4.84%).

📊 Quick Stats:

⬇️ -9.45% Month over Month

⬇️ -4.84% Year over Year

⬇️ -5.56% Year to Date

⬇️ -12.42% From Peak

📈 +15.98% Since March 2020

Madison rents moved counter to home prices, declining 4.84% year-over-year while home values rose 6.25%.

Memphis Rental Market Trends 2024

Memphis rents increased 4.00% YTD while sitting 5.45% below their peak, with solid year-over-year growth (+4.00%).

📊 Quick Stats:

⬇️ -0.95% Month over Month

⬆️ +4.00% Year over Year

⬆️ +4.00% Year to Date

⬇️ -5.45% From Peak

📈 +32.15% Since March 2020

Memphis rents tracked closely with home prices, rising 4.00% year-over-year compared to 4.49% for home values.

Miami Rental Market Trends 2024

Miami rents declined 0.89% YTD while sitting 17.84% below their peak, with negative year-over-year performance (-1.85%).

📊 Quick Stats:

⬇️ -0.04% Month over Month

⬇️ -1.85% Year over Year

⬇️ -0.89% Year to Date

⬇️ -17.84% From Peak

📈 +32.61% Since March 2020

Miami rents moved counter to home prices, declining 1.85% year-over-year while home values rose 3.33%.

Milwaukee Rental Market Trends 2024

Milwaukee rents declined 0.15% YTD while sitting 6.72% below their peak, with slight year-over-year declines (-0.92%).

📊 Quick Stats:

⬇️ -5.35% Month over Month

⬇️ -0.92% Year over Year

⬇️ -0.15% Year to Date

⬇️ -6.72% From Peak

📈 +18.22% Since March 2020

Milwaukee rents diverged sharply from home prices, declining 0.92% year-over-year while home values rose 6.53%.

Minneapolis Rental Market Trends 2024

Minneapolis rents increased 3.38% YTD while sitting 3.24% below their peak, with solid year-over-year growth (+3.38%).

📊 Quick Stats:

⬇️ -0.30% Month over Month

⬆️ +3.38% Year over Year

⬆️ +3.38% Year to Date

⬇️ -3.24% From Peak

📈 +16.25% Since March 2020

Minneapolis rents outperformed home prices, rising 3.38% year-over-year while home values showed a slight decline (-0.06%).

Nashville Rental Market Trends 2024

Nashville rents declined 2.84% YTD while sitting 7.14% below their peak, with notable year-over-year declines (-3.06%).

📊 Quick Stats:

⬇️ -1.96% Month over Month

⬇️ -3.06% Year over Year

⬇️ -2.84% Year to Date

⬇️ -7.14% From Peak

📈 +25.60% Since March 2020

Nashville rents declined more sharply than home prices, falling 3.06% year-over-year compared to a modest 0.18% drop in home values.

North Port Rental Market Trends 2024

North Port rents declined 7.53% YTD while sitting 18.01% below their peak, with significant year-over-year declines (-6.24%).

📊 Quick Stats:

⬆️ +2.45% Month over Month

⬇️ -6.24% Year over Year

⬇️ -7.53% Year to Date

⬇️ -18.01% From Peak

📈 +26.06% Since March 2020

North Port rents declined nearly in tandem with home prices, falling 6.24% year-over-year compared to a 6.26% drop in home values.

Oklahoma City Rental Market Trends 2024

Oklahoma City rents rose 3.43% YTD while sitting 2.22% below their peak, with moderate year-over-year growth (+2.43%).

📊 Quick Stats:

⬇️ -1.12% Month over Month

⬆️ +2.43% Year over Year

⬆️ +3.43% Year to Date

⬇️ -2.22% From Peak

📈 +27.26% Since March 2020

Oklahoma City rents tracked closely with home prices, rising 2.43% year-over-year compared to 2.93% for home values.

Orlando Rental Market Trends 2024

Orlando rents declined 0.79% YTD while sitting 3.54% below their peak, with slight year-over-year declines (-0.29%).

📊 Quick Stats:

⬇️ -0.43% Month over Month

⬇️ -0.29% Year over Year

⬇️ -0.79% Year to Date

⬇️ -3.54% From Peak

📈 +32.51% Since March 2020

Orlando rents declined similarly to home prices, falling 0.29% year-over-year compared to a 0.16% drop in home values.

Pensacola Rental Market Trends 2024

Pensacola rents rose 1.23% YTD while sitting 6.46% below their peak, with moderate year-over-year growth (+2.07%).

📊 Quick Stats:

⬆️ +0.65% Month over Month

⬆️ +2.07% Year over Year

⬆️ +1.23% Year to Date

⬇️ -6.46% From Peak

📈 +38.36% Since March 2020

Pensacola rents tracked slightly behind home prices, rising 2.07% year-over-year compared to 3.00% for home values.

Philadelphia Rental Market Trends 2024

Philadelphia rents increased 4.51% YTD while sitting just 1.23% below their peak, with strong year-over-year growth (+4.51%).

📊 Quick Stats:

⬇️ -0.58% Month over Month

⬆️ +4.51% Year over Year

⬆️ +4.51% Year to Date

⬇️ -1.23% From Peak

📈 +23.79% Since March 2020

Philadelphia rents moved almost exactly with home prices, rising 4.51% year-over-year compared to 4.48% for home values.

Phoenix Rental Market Trends 2024

Phoenix rents rose marginally by 0.24% YTD while sitting 8.35% below their peak, with slight year-over-year declines (-1.01%).

📊 Quick Stats:

⬇️ -1.32% Month over Month

⬇️ -1.01% Year over Year

⬆️ +0.24% Year to Date

⬇️ -8.35% From Peak

📈 +26.26% Since March 2020

Phoenix rents declined more than home prices, falling 1.01% year-over-year compared to a minimal 0.08% drop in home values.

Pittsburgh Rental Market Trends 2024

Pittsburgh rents rose 5.49% YTD while sitting 0.75% below their peak, with solid year-over-year growth (+4.20%).

📊 Quick Stats:

⬆️ +0.17% Month over Month

⬆️ +4.20% Year over Year

⬆️ +5.49% Year to Date

⬇️ -0.75% From Peak

📈 +16.20% Since March 2020

Pittsburgh rents tracked behind home prices, rising 4.20% year-over-year compared to a stronger 7.26% gain in home values.

Portland Rental Market Trends 2024

Portland rents increased 5.53% YTD while sitting 1.06% below their peak, with robust year-over-year growth (+5.60%).

📊 Quick Stats:

⬇️ -0.12% Month over Month

⬆️ +5.60% Year over Year

⬆️ +5.53% Year to Date

⬇️ -1.06% From Peak

📈 +27.39% Since March 2020

Portland rents significantly outperformed home prices, rising 5.60% year-over-year compared to a minimal 0.46% gain in home values.

Providence Rental Market Trends 2024

Providence rents rose 1.26% YTD while sitting 15.47% below their peak, with solid year-over-year growth (+4.42%).

📊 Quick Stats:

⬆️ +0.45% Month over Month

⬆️ +4.42% Year over Year

⬆️ +1.26% Year to Date

⬇️ -15.47% From Peak

📈 +43.08% Since March 2020

Providence rents lagged home prices, rising 4.42% year-over-year compared to a robust 7.99% gain in home values.

Raleigh Rental Market Trends 2024

Raleigh rents declined 1.09% YTD while sitting 4.56% below their peak, with negative year-over-year performance (-1.18%).

📊 Quick Stats:

⬇️ -0.46% Month over Month

⬇️ -1.18% Year over Year

⬇️ -1.09% Year to Date

⬇️ -4.56% From Peak

📈 +28.15% Since March 2020

Raleigh rents moved counter to home prices, declining 1.18% year-over-year while home values rose 1.23%.

Richmond Rental Market Trends 2024

Richmond rents rose 4.32% YTD while sitting 4.57% below their peak, with solid year-over-year growth (+3.77%).

📊 Quick Stats:

⬇️ -1.43% Month over Month

⬆️ +3.77% Year over Year

⬆️ +4.32% Year to Date

⬇️ -4.57% From Peak

📈 +35.27% Since March 2020

Richmond rents tracked behind home prices, rising 3.77% year-over-year compared to a stronger 5.69% gain in home values.

San Antonio Rental Market Trends 2024

San Antonio rents declined 3.40% YTD while sitting 7.89% below their peak, with significant year-over-year declines (-3.58%).

📊 Quick Stats:

⬇️ -7.89% Month over Month

⬇️ -3.58% Year over Year

⬇️ -3.40% Year to Date

⬇️ -7.89% From Peak

📈 +19.32% Since March 2020

San Antonio rents fell more sharply than home prices, declining 3.58% year-over-year compared to a 0.54% drop in home values.

San Diego Rental Market Trends 2024

San Diego rents declined 1.50% YTD while sitting 3.64% below their peak, with negative year-over-year performance (-1.34%).

📊 Quick Stats:

⬇️ -0.45% Month over Month

⬇️ -1.34% Year over Year

⬇️ -1.50% Year to Date

⬇️ -3.64% From Peak

📈 +29.06% Since March 2020

San Diego rents moved counter to home prices, declining 1.34% year-over-year while home values rose 2.98%.

San Francisco Rental Market Trends 2024

San Francisco rents declined 0.62% YTD while sitting 13.49% below their peak, with minimal year-over-year declines (-0.07%).

📊 Quick Stats:

⬇️ -1.41% Month over Month

⬇️ -0.07% Year over Year

⬇️ -0.62% Year to Date

⬇️ -13.49% From Peak

📈 +3.73% Since March 2020

San Francisco rents diverged from home prices, declining 0.07% year-over-year while home values rose 1.78%.

San Jose Rental Market Trends 2024

San Jose rents increased 3.27% YTD while sitting 3.33% below their peak, with solid year-over-year growth (+3.13%).

📊 Quick Stats:

⬆️ +0.42% Month over Month

⬆️ +3.13% Year over Year

⬆️ +3.27% Year to Date

⬇️ -3.33% From Peak

📈 +7.28% Since March 2020

San Jose rents grew but lagged home prices, rising 3.13% year-over-year compared to a stronger 6.75% gain in home values.

Seattle Rental Market Trends 2024

Seattle rents rose 4.29% YTD while sitting 5.02% below their peak, with modest year-over-year growth (+1.35%).

📊 Quick Stats:

⬆️ +0.27% Month over Month

⬆️ +1.35% Year over Year

⬆️ +4.29% Year to Date

⬇️ -5.02% From Peak

📈 +21.32% Since March 2020

Seattle rents tracked behind home prices, rising 1.35% year-over-year compared to a stronger 4.39% gain in home values.

Tallahassee Rental Market Trends 2024

Tallahassee rents rose 0.39% YTD while sitting 6.32% below their peak, with moderate year-over-year growth (+1.74%).

📊 Quick Stats:

⬇️ -0.46% Month over Month

⬆️ +1.74% Year over Year

⬆️ +0.39% Year to Date

⬇️ -6.32% From Peak

📈 +38.75% Since March 2020

Tallahassee rents moved counter to home prices, rising 1.74% year-over-year while home values fell 3.20%.

Tampa Rental Market Trends 2024

Tampa rents declined 4.21% YTD while sitting 8.31% below their peak, with significant year-over-year declines (-4.08%).

📊 Quick Stats:

⬆️ +0.14% Month over Month

⬇️ -4.08% Year over Year

⬇️ -4.21% Year to Date

⬇️ -8.31% From Peak

📈 +33.33% Since March 2020

Tampa rents declined more steeply than home prices, falling 4.08% year-over-year compared to a 2.97% drop in home values.

Urban Honolulu Rental Market Trends 2024

Urban Honolulu rents increased 3.67% YTD while sitting at peak levels, with strong year-over-year growth (+5.28%).

📊 Quick Stats:

⬆️ +1.29% Month over Month

⬆️ +5.28% Year over Year

⬆️ +3.67% Year to Date

⬆️ +0.00% From Peak

📈 +15.05% Since March 2020

Urban Honolulu rents moved sharply counter to home prices, rising 5.28% year-over-year while home values fell 3.25%.

Washington DC Rental Market Trends 2024

Washington DC rents declined marginally by 0.06% YTD while sitting 11.36% below their peak, with slight year-over-year growth (+1.22%).