BiggerPockets Daily Rent Growth Continues It's Decline as Sunbelt Markets Enter Correction Territory
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Jul 18, 2025 Rent growth is cooling, with U.S. asking rents rising only 2.9% year-over-year. Surprisingly, 35% of rental listings are now offering concessions like free rent. Regional variations in rent trends highlight diverse challenges across metropolitan areas. The podcast dives into the potential corrections in the housing market driven by economic uncertainty. With changes in mortgage rates due to Federal Reserve actions, there’s a glimmer of cautious optimism for landlords and renters alike.
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Rent Growth Softens Significantly
- U.S. rent growth cooled to just 2.9% year-over-year in June, one of the softest in recent memory.
- Supply has finally caught up, easing pressure on landlords to raise rents and leading to more concessions.
Record Rental Concessions Rise
- Rental concessions hit a record high with over 35% of listings offering perks like free rent or parking.
- This signals landlords are struggling to compete amid rising vacancies and market softness.
Rent Market Shows Modest Growth
- Rent growth remains positive but modest, around 2-3%, indicating no full-blown correction yet.
- Markets showing declines are few and mostly localized, while most still see growth since the pandemic start.