Each year, Zumper’s Annual Rent Report takes a deep-dive into past year of data, knowledge of economic trends, Zumper surveys, internal data on renter search, and ongoing conversations with clients, experts, and others in the industry. They say this intel gives them a comprehensive view of 2024 and a look at what’s to come in 2025.
2024 was the year of the renter. Record high levels of supply came online and many markets that saw dramatic rent spikes in 2022 and 2023, such as cities in Texas, Florida, and Arizona, finally experienced some softening. Renters who moved into new properties this year likely enjoyed considerable bargaining power. Facing pressure to fill vacancies—particularly in newly constructed buildings—property owners and leasing teams have employed concessions, move-in incentives, and even lowered rents to stay competitive.
Click here to read the full report at Zumper.
