Rentec Direct's State of Rent Report highlights national trends during Affordable Housing Month
GRANTS PASS, Ore., May 1, 2025 /PRNewswire-PRWeb/ -- In recognition of National Affordable Housing Month, Rentec Direct has released a new, data-rich report revealing a 31 percent increase in national rent payments over the past five years. "The State of Rent: Housing Affordability Trends Across the U.S." delivers an in-depth, state-by-state analysis, identifying where rents have soared, where rent growth might be stabilizing and what these trends mean for the rental market in 2025. The findings underscore the escalating housing affordability crisis millions of renters face, especially in high-demand markets.
Key insights from Rentec Direct's State of Rent Report:
- Nationwide rent surge: Average monthly rent reached $1,302 in 2024—up 31% over five years despite a slowing year-over-year growth rate. The steepest spike came between 2021 and 2022 as pandemic-era rent breaks ended.
- Affordability gaps: Pacific states (Hawaii, California, Washington) top the charts as the most expensive rental markets, while Southern and Midwestern states (West Virginia, Louisiana, Minnesota) offer the most affordable options.
- Regional extremes: Arizona, Tennessee and New Mexico saw rent hikes exceeding 65%. Minnesota stands out as the only state to see a significant rent decline—a 34% drop, likely tied to land use reform.
- Supply and demand: States with rapid population growth, limited housing supply and no rent control laws are seeing the largest rent increases.
- 2025 outlook: The report includes a 2025 market forecast with exclusive intel for renters, landlords and housing advocates navigating shifting trends.
"A 31 percent national rent increase over just five years is a clear indicator that housing affordability remains a pressing concern for millions of renters," said Nathan Miller, President of Rentec Direct. "As we look ahead to the second half of 2025, landlords should focus on long-term strategies for retention and stability. Renters may benefit from exploring more affordable suburban or rural markets or by proactively negotiating lease terms. We encourage our legislators to prioritize smart housing policies that balance supply and demand for both landlords and tenants. Our goal with this report is to give the rental industry the insights it needs to make more informed decisions in an increasingly complex market."
To inform the State of Rent Report, the leading property management software platform analyzed real rent payment data from its nationwide network of landlords and property managers. This includes information from over 300,000 rental properties and over 350,000 tenants in all 50 states. Unlike many rent studies based on advertised rates for vacant units, this report reflects actual rent payments collected by landlords and property managers, providing a more accurate and realistic snapshot of what tenants are paying today.
To access the State of Rent Report, visit: https://www.rentecdirect.com/learn/research/rent-report-2025.
About Rentec Direct
Rentec Direct provides industry-leading property management software and tenant screening solutions for real estate professionals. Key features include online rent payments, a mobile app and tenant portal, vacancy listing syndication, and accounting tools. Founded in 2007, Rentec Direct is the third-largest software in its sector and is consistently the highest-rated by investors, landlords, and property managers. Recognized on the Inc. 5000 list of fastest-growing private companies for eight consecutive years, Rentec Direct was also named Real Estate Company of the Year in the 2024 American Business Awards and listed among the U.S. Chamber of Commerce's Top 100 Small Businesses. http://www.rentecdirect.com
Media Contact
Morgan Whitehouse, Rentec Direct, 802-373-4686, [email protected], www.rentecdirect.com
SOURCE Rentec Direct
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