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Rent Growth Slows: Chicago Leads, Miami Stalls

9/23/2025

47 7 Full Breakdown

Summary

Story summary

Washington, D.C.: single-family rent growth slowed to 2.3% in July, from 3.1% last year.
Chicago led major metros with 5.1% rent growth; Miami posted no growth.
Nationally, renting is cheaper than buying, saving $1,027 per month in 50 largest United States metros.
Rents declined seven months and sit 2.8% below mid-2022 peaks; January prices rose 7.4% due to low inventory.

History

Historical Context

The 2008 U.S. housing market crash, triggered by the subprime mortgage crisis, resulted in 2.3 million foreclosures and a significant drop in homeownership rates. In response, the Federal Reserve lowered interest rates, impacting rental demand. Today, as single-family rent growth slows to 2.3%, cities like Chicago show a stark 5.1% increase, underscoring ongoing regional disparities in housing affordability.

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Story summary

Washington, D.C.: single-family rent growth slowed to 2.3% in July, from 3.1% last year.
Chicago led major metros with 5.1% rent growth; Miami posted no growth.
Nationally, renting is cheaper than buying, saving $1,027 per month in 50 largest United States metros.
Rents declined seven months and sit 2.8% below mid-2022 peaks; January prices rose 7.4% due to low inventory.

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