Story perspectives

U.S. Rent Falls Again: Renter Mobility Rises to 21.5%

9/17/2025

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Summary

Story summary

In August 2025, U.S. median rent decreased for the 25th month, down 2.2% year-over-year to $1,713.
All unit sizes saw declines, with two-bedroom units averaging $1,897, also a 2.2% drop.
Renter mobility rose to 21.5% in 2023, influenced by falling rents and the search for larger or more affordable homes.
Younger renters prioritize affordability, while older renters focus on costs due to fixed incomes.
Nearly 60% of renters plan to buy homes, with expectations differing by age group.

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Story summary

In August 2025, U.S. median rent decreased for the 25th month, down 2.2% year-over-year to $1,713.
All unit sizes saw declines, with two-bedroom units averaging $1,897, also a 2.2% drop.
Renter mobility rose to 21.5% in 2023, influenced by falling rents and the search for larger or more affordable homes.
Younger renters prioritize affordability, while older renters focus on costs due to fixed incomes.
Nearly 60% of renters plan to buy homes, with expectations differing by age group.