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Median asking <\/b>rent<\/b><\/p>\n<\/td>\n
YoY change in <\/b>median asking rent<\/b><\/p>\n<\/td>\n
Median asking rent per <\/b>square foot<\/b><\/p>\n<\/td>\n
YoY change in median <\/b>asking rent per square <\/b>foot<\/b><\/p>\n<\/td>\n<\/tr>\n 0-1 bedroom apartments<\/b><\/p>\n<\/td>\n \n$1,449<\/p>\n<\/td>\n \n-1%<\/p>\n<\/td>\n \n$2.05<\/p>\n<\/td>\n \n-2.3%<\/p>\n<\/td>\n<\/tr>\n 2 bedroom apartments<\/b><\/p>\n<\/td>\n \n$1,665<\/p>\n<\/td>\n \n-0.6%<\/p>\n<\/td>\n \n$1.60<\/p>\n<\/td>\n \n-1%<\/p>\n<\/td>\n<\/tr>\n 3+ bedroom apartments<\/b><\/p>\n<\/td>\n \n$1,950<\/p>\n<\/td>\n \n-2.5%<\/p>\n<\/td>\n \n$1.49<\/p>\n<\/td>\n \n-2.2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Asking rents fell fastest in Austin, now 23% below their all-time high<\/b><\/p>\n \nIn Austin, TX, the median asking rent dropped 16.3% year over year in December\u2014the largest decline among the 44 major U.S. metropolitan areas Redfin analyzed. At $1,393, Austin\u2019s median asking rent last month was 22.6% below its August 2023 record high.<\/p>\n \nFlorida is home to the two metros that posted the next steepest declines: Tampa (-10.4%) and Jacksonville (-6.7%). Next came Nashville (-6.3%) and New York (-4.6%).<\/p>\n \nAsking rents are falling most in the Sun Belt because the region has been building a lot of housing, and because in some areas, rents are coming back down to earth after rising to unsustainable levels during the pandemic moving frenzy.<\/p>\n \nRents rose most in Providence, RI (12.6% YoY), followed by Virginia Beach, VA (10.9%), Louisville, KY (10%), Baltimore (10%) and Buffalo, NY (9.4%).<\/p>\n \nTo view the full report, including a chart, metro-level summary and methodology, please visit: About Redfin<\/b><\/p>\n \nRedfin (www.redfin.com<\/a>) 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 $1.6 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.<\/p>\n \nRedfin\u2019s subsidiaries and affiliated brands include: Bay Equity Home Loans\u00ae, Rent.\u2122, Apartment Guide\u00ae, Title Forward\u00ae and WalkScore\u00ae.<\/p>\n \nFor more information or to contact a local Redfin real estate agent, visit www.redfin.com<\/a>. To learn about housing market trends and download data, visit the Redfin Data Center<\/a>. To be added to Redfin’s press release distribution list, email press@redfin.com<\/a>. To view Redfin’s press center, click here<\/a>.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250109366335\/en\/<\/a><\/span><\/p>\n \nContact Redfin KEYWORDS:<\/b> Rhode Island Florida Washington Maryland Virginia New York Kentucky Texas United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Professional Services Technology Residential Building & Real Estate Finance Construction & Property Internet<\/p>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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https:\/\/www.redfin.com\/news\/rental-tracker-december-2024<\/a><\/p>\n<\/p>\n
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Redfin Journalist Services:
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Kenneth Applewhaite
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press@redfin.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250109366335\/en\/1407505\/3\/Redfin_Standard_Web_Logo.jpg\"){kind=logo}
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