<a href="https://laohu8.com/S/RKT">Rocket Companies</a> Inc. Reports U.S. Apartment Rents See Largest Increase in 2.5 Years, Driven by Shrinking Supply and Rising Demand
Rocket Companies Inc., through its subsidiary Redfin, has reported that the median U.S. apartment asking rent increased by 1.7% year over year to $1,790 in July, marking the largest rise since January 2023. This trend follows two years of stagnant or declining rents, with July being the second consecutive month of year-over-year increases. However, the median rent remains $70 below its July 2022 peak of $1,860. In contrast, asking rents fell in seven metro areas, notably in Florida and Texas, due to increased multifamily housing permits, with Jacksonville, FL seeing the largest decline of 3.5%. San Jose, CA experienced the most significant rent surge of 8.8%, attributed to a substantial drop in new apartment permits. Despite rising rents, rental affordability seems to be improving as wages are growing at a faster rate. This report also marks Redfin's adoption of a new rental methodology, now using data from Zillow for buildings with 25+ units.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250814441752) on August 14, 2025, and is solely responsible for the information contained therein.
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