Hey There! Happy April! As we move into Q2 and spring leasing season, we’re seeing a rental market that remains soft but stable in many ways. March’s data shows slight downward pressure on pricing and an uptick in average days on market, especially for duplexes. March 2025 Rental Market Update - Watch Video Single-Family Rentals (SFRs) The single-family rental market was relatively steady year over year, with only a slight 1% decline in total leases. However, average and median rents continue to soften. The average lease price dropped 2.43% to $2,528, while the median lease rate fell more sharply, down 4.35% to $2,200. Inventory remained flat, with new listings up just 0.15%, but homes are sitting longer, with average days on market increasing by nearly 12% to 47 days. Takeaways for SFRs: Renters have more negotiating power as pricing continues to dip slightly. The leasing process is taking longer than it did this time last year. With steady inventory and softening pr...
