Search
 

January Rent Growth Near Long-Term Norm

Supply-constrained Midwest and Northeast markets showed the strongest rent growth.

By Kristen Smithberg | February 11, 2025 at 06:00 AM

Following typical season rent cuts to close out 2024, apartment rents grew at nearly a normal rate in January. Rent growth remained below long-term norms, but the marginal growth signaled that the most severe rent cuts are behind us, according to a RealPage report.

Market rate apartment rents grew 0.16% in January, slightly below the long-term norm for January of 0.24% growth between 2015 and 2024. The eight basis point change is within a rounding difference, which suggests rent change will continue to look more regular by historical standards this year, said the report.

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.