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Apartment List

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December 1, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the December 2022 Apartment List National Rent Report. Our national index fell by 1 percent over the course of November, marking the third straight month-over-month decline, and the largest single month dip in the history of our index, going back to 2017. The timing of the recent cooldown in the rental market is consistent with the typical seasonal trend, but its magnitude has been notably sharper than what we’ve seen in the past, suggesting that the recent swing to falling rents is reflective of a broader shift in market conditions beyond seasonality alone.
November 1, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the November 2022 Apartment List National Rent Report. Our national index fell by 0.7 percent over the course of October, marking the second straight month-over-month decline, and the largest single month dip in the history of our index, going back to 2017. These past two months have marked a rapid cooldown in the market, but the timing of that cooldown is consistent with a seasonal trend that was typical in pre-pandemic years. Going forward it is likely that rents will continue falling in the coming months as we enter the winter slow season for the rental market.
October 28, 2022 / Real Estate

Why the voter turnout gap between renters and homeowners may finally be narrowing

From Apartment List
With the 2022 midterm elections in less than two weeks, economic issues are taking center stage. Throughout this year, inflation has been running at its hottest pace in four decades, and there are growing fears that the Fed’s efforts to push back could induce a recession in the year ahead. Skyrocketing housing costs have been a key component of inflation, and one that could constitute a wedge issue between renters and homeowners. Most homeowners are locked into fixed monthly mortgage payments, and for those that already owned at the start of the pandemic, quickly rising home values have been primarily experienced as a boon to their net worths.
October 7, 2022 / Real Estate

The Suburban Rent Boom Has Been a Constant Throughout the Pandemic

From Apartment List
The past two and half years have been the most tumultuous time for the rental market in recent memory. Much of that tumult can be traced back to the way that the pandemic has changed the ways that we live and work. In the earliest phases of the pandemic, many of the nation’s large cities saw sharp rent declines as a subset of renters with newly remote working arrangements moved away from expensive downtown areas that had temporarily lost their vibrancy, in search of more space in the surrounding suburbs. At the same time, widespread job losses also forced many workers to give up leases they could no longer afford.
September 28, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the October 2022 Apartment List National Rent Report. Our national index fell by 0.2 percent over the course of September, marking the first time this year that the national median rent has declined month-over-month. The timing of this slight dip in rents is consistent with a seasonal trend that was typical in pre-pandemic years. Assuming that trend continues, it is likely that rents will continue falling in the coming months as we enter the winter slow season for the rental market.
August 31, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the September 2022 Apartment List National Rent Report. Our national index rose by 0.5 percent over the course of August, half the rate of growth compared to last month. This marks a deceleration of the rental market that follows a typical, pre-pandemic trend. This year rents have risen slightly faster than they did before the pandemic, but significantly slower than they did in 2021 when rent inflation was at its peak. So far in 2022 rents are up 7.2 percent, compared to 14.8 percent at this point in 2021. Year-over-year growth has slowed to 10 percent, down from a pearl of nearly 18 percent at the beginning of the year.
August 22, 2022 / Business

Pandemic Rent Growth Has Been Faster in Lower-Cost Cities

From Apartment List
Since 2020, rent growth in the United States can be broken into two phases. The first started with the COVID-19 pandemic in March 2020 and lasted roughly one year. During this time, expensive cities - particularly denser metropolitan ones - experienced a surge in vacant apartments and a sustained drop in rent prices. Meanwhile, in cheaper and more-suburban cities, rent drops were short-lived and price growth accelerated within months. We witnessed a steady price convergence, as expensive cities got cheaper and cheaper cities got more expensive.
July 29, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the August 2022 Apartment List National Rent Report. Our national index rose by 1.1 percent over the course of July, a slightly slower rate of growth than we observed last month. So far this year, rents are growing more slowly than they did in 2021, but faster than they did in the years immediately preceding the pandemic. Over the first seven months of 2022, rents have increased by a total of 6.7 percent, compared to an increase of 12.0 percent over the same months of 2021. Year-over-year rent growth currently stands at 12.3 percent, but has been trending down since the start of the year from a peak of 18 percent.
July 20, 2022 / Real Estate

More Than 2 Million Households Dissolved (then Reappeared) During the Pandemic

From Apartment List
Household composition refers to the group of individuals who live together in a household, and how they relate to one another. Historically, changes in household composition have been fairly gradual and reflect cultural and economic shifts that unfold over generations. But the household shifts that resulted from the COVID-19 pandemic were rapid, and have had a dramatic effect on housing affordability.
June 29, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the July 2022 Apartment List National Rent Report. Our national index rose by 1.3 percent over the course of June, consistent with last month’s increase. So far this year, rents are growing more slowly than they did in 2021, but faster than they did in the years immediately preceding the pandemic. Over the first half of 2022, rents have increased by a total of 5.4 percent, compared to an increase of 8.8 percent over the same months of 2021. Year-over-year rent growth currently stands at a staggering 14.1 percent, but has been trending down from a peak of 17.8 percent at the start of the year.
June 8, 2022 / Real Estate

Introducing the Apartment List Vacancy Index

From Apartment List
At Apartment List, our research team is committed to providing accurate and timely data so that those interacting with today's quickly changing housing market can make well-informed decisions. For years, our Monthly Rent Estimates have equipped researchers, journalists, industry specialists, and the general public with data on the latest pricing trends. Today, we’re thrilled to announce the release of our newest data product -- the Apartment List Vacancy Index.
June 2, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the June 2022 Apartment List National Rent Report. Rent growth accelerated slightly again this month, with our national index up by 1.2 percent over the course of May. So far this year, rents are growing more slowly than they did in 2021, but faster than the growth we observed in the years immediately preceding the pandemic. Over the first five months of 2022, rents have increased by a total of 3.9 percent, compared to an increase of 6.1 percent over the same months of 2021.
April 29, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the May 2022 Apartment List National Rent Report. Rent growth is continuing to pick up steam again, after a brief winter cooldown, with our national index up by 0.9 percent over the course of April. So far this year, rents are growing more slowly than they did in 2021, but faster than the growth we observed in the years immediately preceding the pandemic. Year-over-year rent growth currently stands at a staggering 16.3 percent, but most of that growth took place last spring and summer.
March 30, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the April 2022 Apartment List National Rent Report. Rent growth is continuing to pick up steam again, after a brief winter cooldown, with our national index up by 0.8 percent over the course of March. So far this year, rents are growing more slowly than they did in 2021, but faster than the growth we observed in the years immediately preceding the pandemic. Year-over-year rent growth currently stands at a staggering 17.1 percent, but most of that growth took place last spring and summer.
March 2, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the March 2022 Apartment List National Rent Report. After a slight seasonal cooldown over the past few months, rent growth is back on an upward trajectory, with our national index up by 0.6 percent over the course of February. Even though month-over-month rent growth has moved back into positive territory, it remains substantially cooler than last summer, when rents grew by more than 2 percent per month for four straight months. Year-over-year rent growth currently stands at a staggering 17.6 percent, but most of that growth took place last spring and summer.
February 11, 2022 / Real Estate

The Remote Work Divide in Housing Cost Struggles

From Apartment List
2021 was a year of staggering price growth on both the rental and for-sale sides of the housing market, but even before these recent spikes, housing affordability was already a major concern. Generally accepted wisdom holds that a household should not spend more than 30 percent of gross household income on housing costs (i.e. rent or mortgage payments) in order to maintain good financial health. However, as of 2019, nearly one-in-three American households spent above this threshold; these 36.5 million households are considered to be “cost-burdened.”
January 28, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the February 2022 Apartment List National Rent Report. After a slight dip to close out 2021, our national index ticked back up by 0.2 percent over the course of January. Even though month-over-month growth has moved back into positive territory, rent growth has still cooled substantially from last year’s peak. Year-over-year rent growth currently stands at a record-setting 17.8 percent, but over the past four months, rents have increased by a total of just 0.9 percent. Much of this cooldown is likely related to seasonal factors; it remains to be seen if rapid rent growth will return as moving activity picks back up in the spring and summer
January 7, 2022 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the first Apartment List National Rent Report of 2022. Our national index fell by 0.2 percent during the month of December, marking the only time in 2021 when rents declined month-over-month. A slight dip in rents at this time of year is typical of seasonality in the market, but it’s especially notable after a year of record-setting growth. Over the course of calendar year 2021, the national median rent increased by a staggering 17.8 percent. To put that in context, annual rent growth averaged just 2.3 percent in the pre-pandemic years from 2017-2019.
December 1, 2021 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the December Apartment List National Rent Report. Our national index increased by 0.1 percent during the month of November, the lowest month-over-month growth rate of 2021. The pace of rent growth has been cooling rapidly for the past few months, but growth is still outpacing pre-pandemic trends, with the slight uptick this month coming at a time of year when seasonality normally causes prices to dip. Since January of this year, the national median rent has increased by a staggering 17.8 percent.
November 3, 2021 / Real Estate

Apartment List National Rent Report

From Apartment List
Welcome to the November Apartment List National Rent Report. Our national index increased by 0.8 percent from September to October, the lowest month-over-month growth rate since February. Although the pace of rent growth has slowed down significantly from its July peak, growth is still outpacing pre-pandemic trends, with rents continuing to rise during a time of year when seasonality normally causes prices to dip. Since January of this year, the national median rent has increased by a staggering 16.4 percent.