Search
 

When Growth Hits the Brakes: A Look at the 2024 Rental Landscape

After increasing 7.1% in 2022 and 4% in 2023, rent growth slowed to just 0.8% in 2024.

By Kristen Smithberg | January 23, 2025 at 07:03 AM

The rental market is undergoing a noticeable shift as rents for both apartments and single-family homes experience a noticeable slowdown.

This is according to an annual report compiled by Rentometer from 2024, which found average single-family rents rose to $2,357 but the pace of rent growth slowed significantly. After increasing 7.1% year-over-year in 2022 and 4% in 2023, rent growth slowed to 0.8% last year, the smallest annual increase in recent years.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.