Redfin Reports U.S. Apartment Asking Rents Post Biggest Increase in 2.5 Years

SEATTLE--(BUSINESS WIRE)-- #housingmarket--The median U.S. asking rent rose 1.7% ($30) year over year to $1,790 in July—the largest increase since January 2023. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. July marked the second-consecutive year-over-year increase (the median asking rent rose 0.4% in June) following over two years of declining or flat rents. The median asking rent climbed 0.8% on a month-over-month basis in July. “Asking rents may be climbing becaus