October 2025 Avg. Rents, Days on Market, and Rental Inventory

[Matt Thelen]

October 2025 U.S. Rental Market Update

TL;DR: Leasing cooled across most large metros as DOM ticked up and inventory stayed elevated in TX/FL. A few markets remain fast (Cheyenne, Minneapolis, Kansas City). Strategy this month: price inside the comp band, tighten screening, and use small concessions when availability surges.

1) National Snapshot (from your state & city panels)

• DOM rose MoM in many supply-heavy metros: Boston 140 (+32%), Raleigh 57 (+19%), Seattle 42 (+14%), Sacramento 45 (+13%), Denver 49 (+11%), San Francisco 68 (+11%), Dallas 81 (+5%).
  
  
• Availability is up YoY across several Sun Belt hubs, shifting leverage toward renters: Miami 7,647 vs 5,404 YoY, Houston 10,453 vs 6,822, San Antonio 6,422 vs 4,849.
  
  
• Still-fast: Cheyenne (27 DOM), Minneapolis (32), Kansas City (43), Sacramento (45), Portland (45).
  
  
• Prices mixed: modest MoM softness in several markets; YoY trends vary by city/class.
  
  

2) How to beat the slowdown

• Smart pricing & listing feedback → avoid overpricing stalls. Do you know where to find the best free pricing guidance available powered by AI and unique data? I do…
  
  
• Better photos + distribution → more qualified tours, fewer dead weeks. Do you know how to find AI to score your photos for free? I do…
  
  
• Income verification & fraud checks → fewer resets and re-marketing. Verify means don’t just trust what they self-report. Watch out for fraud, it’s rampant.
  
  
• Guaranteed rent → the point of owning a rental is to get paid rent. Fast leasing only matters if you actually get paid. Look for an option to get your rent guaranteed.

Full State-by-Market Breakdown (Oct 5, 2025)

Rent data is for all property types, Days on Market (DOM) is only for houses

Alabama

• All — Rent $1,452, DOM 56 (MoM +4%, YoY +14%)
  
  

Alaska

• All — Rent $1,900, DOM 45 (MoM –5%, YoY +15%)
  
  

Arizona

• Phoenix — Rent $1,895, DOM 54 (MoM +4%, YoY +8%), Avail 5,411
  
  

Arkansas

• All — Rent $1,400, DOM 52 (MoM +6%, YoY +21%)
  
  

California

• Los Angeles — Rent $2,795, DOM 61 (MoM +2%, YoY +5%), Avail 17,375
  
  
• San Diego — Rent $3,100, DOM 52 (MoM –4%, YoY +16%), Avail 6,207
  
  
• San Francisco — Rent $3,733, DOM 68 (MoM +11%, YoY +33%), Avail 1,853
  
  
• San Jose — Rent $3,098, DOM 51 (MoM +2%, YoY +50%), Avail 1,294
  
  
• Sacramento — Rent $1,999, DOM 45 (MoM +13%, YoY +29%), Avail 1,709
  
  
• Oakland — Rent $2,325, DOM 56 (MoM +6%, YoY +4%), Avail 1,851
  
  

Colorado

• Denver — Rent $2,100, DOM 49 (MoM +11%, YoY +17%), Avail 4,551
  
  

Connecticut

• New Haven — Rent $1,800, DOM 79 (MoM +22%, YoY +88%), Avail 1,378
  
  

DC

• DC — Rent $2,500, DOM 66 (MoM +9%, YoY +12%), Avail 4,500
  
  

Delaware

• All — Rent $1,975, DOM 45 (MoM +4%, YoY +2%)
  
  

Florida

• Jacksonville — Rent $1,625, DOM 53 (MoM +0%, YoY +18%), Avail 4,196
  
  
• Miami — Rent $3,190, DOM 52 (MoM +4%, YoY –7%), Avail 7,647
  
  
• Orlando — Rent $1,990, DOM 52 (MoM +8%, YoY +18%), Avail 3,652
  
  
• Tampa — Rent $2,095, DOM 53 (MoM +2%, YoY +10%), Avail 2,869
  
  

Georgia

• Atlanta — Rent $2,050, DOM 74 (MoM +1%, YoY +19%), Avail 4,015
  
  

Hawaii

• All — Rent $3,100, DOM 114 (MoM +2%, YoY +34%)
  
  

Idaho

• All — Rent $1,870, DOM 41 (MoM +0%, YoY +5%)
  
  

Illinois

• Chicago — Rent $1,995, DOM 50 (MoM +6%, YoY +6%), Avail 8,609
  
  

Indiana

• Indianapolis — Rent $1,500, DOM 52 (MoM +6%, YoY +16%), Avail 2,680
  
  

Iowa

• All — Rent $1,175, DOM 38 (MoM –2%, YoY +6%)
  
  

Kansas

• All — Rent $1,400, DOM 45 (MoM +2%, YoY +7%)
  
  

Kentucky

• Louisville — Rent $1,289, DOM 54 (MoM +4%, YoY +32%), Avail 1,997
  
  

Louisiana

• New Orleans — Rent $1,750, DOM 63 (MoM +11%, YoY –3%), Avail 3,060
  
  

Maine

• All — Rent $2,000, DOM 56 (MoM +6%, YoY +19%)
  
  

Maryland

• Baltimore — Rent $1,650, DOM 79 (MoM +8%, YoY +52%), Avail 3,373
  
  

Massachusetts

• Boston — Rent $3,200, DOM 140 (MoM +32%, YoY +39%), Avail 9,586
  
  

Michigan

• Detroit — Rent $1,200, DOM 70 (MoM +6%, YoY +23%), Avail 2,406
  
  

Minnesota

• Minneapolis — Rent $1,700, DOM 32 (MoM –4%, YoY –9%), Avail 1,715
  
  

Mississippi

• All — Rent $1,500, DOM 53 (MoM +0%, YoY +4%)
  
  

Missouri

• Kansas City — Rent $1,400, DOM 43 (MoM –7%, YoY +8%), Avail 1,716
  
  
• St. Louis — Rent $1,250, DOM 60 (MoM +11%, YoY +28%), Avail 1,705
  
  

Montana

• All — Rent $1,888, DOM 48 (MoM +10%, YoY +20%)
  
  

Nebraska

• All — Rent $1,400, DOM 41 (MoM +15%, YoY –2%)
  
  

Nevada

• Las Vegas — Rent $1,950, DOM 46 (MoM +5%, YoY +7%), Avail 5,627
  
  

New Hampshire

• All — Rent $2,100, DOM 72 (MoM –14%, YoY –8%)
  
  

New Jersey

• Newark — Rent $2,120, DOM 51 (MoM –11%, YoY +42%), Avail 1,664
  
  

New Mexico

• All — Rent $1,725, DOM 45 (MoM +5%, YoY +13%)
  
  

New York

• New York — Rent $3,606, DOM 62 (MoM +13%, YoY +17%), Avail 17,744
  
  

North Carolina

• Charlotte — Rent $1,969, DOM 50 (MoM +4%, YoY –7%), Avail 4,015
  
  
• Raleigh — Rent $1,850, DOM 57 (MoM +19%, YoY –7%), Avail 2,000
  
  

North Dakota

• All — Rent $1,140, DOM 63 (MoM –8%, YoY –13%)
  
  

Ohio

• Cincinnati — Rent $1,495, DOM 47 (MoM –10%, YoY +9%), Avail 2,109
  
  
• Cleveland — Rent $1,225, DOM 66 (MoM +0%, YoY +32%), Avail 2,038
  
  
• Columbus — Rent $1,503, DOM 53 (MoM +4%, YoY +4%), Avail 3,308
  
  

Oklahoma

• Oklahoma City — Rent $1,400, DOM 50 (MoM +5%, YoY +19%), Avail 1,797
  
  

Oregon

• Portland — Rent $1,800, DOM 45 (MoM –2%, YoY +10%), Avail 2,832
  
  

Pennsylvania

• Philadelphia — Rent $1,600, DOM 60 (MoM +0%, YoY +7%), Avail 8,995
  
  
• Pittsburg — Rent $1,530, DOM 66 (MoM +3%, YoY +25%), Avail 2,532
  
  

Rhode Island

• Providence — Rent $2,161, DOM 47 (MoM +8%, YoY +34%), Avail 870
  
  

South Carolina

• All — Rent $1,817, DOM 55 (MoM +13%, YoY +6%)
  
  

South Dakota

• All — Rent $1,233, DOM 50 (MoM –8%, YoY +22%)
  
  

Tennessee

• Nashville — Rent $2,246, DOM 52 (MoM +7%, YoY +4%), Avail 3,192
  
  

Texas

• Austin — Rent $2,000, DOM 57 (MoM +6%, YoY +4%), Avail 6,385
  
  
• Dallas — Rent $1,995, DOM 81 (MoM +5%, YoY +29%), Avail 3,582
  
  
• Houston — Rent $1,899, DOM 55 (MoM +4%, YoY +15%), Avail 10,453
  
  
• San Antonio — Rent $1,670, DOM 62 (MoM +7%, YoY +24%), Avail 6,422
  
  

Utah

• Salt Lake City — Rent $1,599, DOM 47 (MoM –5%, YoY +21%), Avail 977
  
  

Vermont

• All — Rent $2,295, DOM 61 (MoM –9%, YoY +3%)
  
  

Virginia

• Richmond — Rent $1,613, DOM 48 (MoM +5%, YoY +12%), Avail 932
  
  

Washington

• Seattle — Rent $2,228, DOM 42 (MoM +14%, YoY +11%), Avail 4,052
  
  

West Virginia

• All — Rent $1,200, DOM 54 (MoM –4%, YoY +17%)
  
  

Wisconsin

• Milwaukee — Rent $1,250, DOM 46 (MoM +9%, YoY +21%), Avail 1,311
  
  

Wyoming

• Cheyenne — Rent $1,450, DOM 27 (MoM +24%, YoY –4%), Avail 217
  
  

Top MoM DOM Risers (slower)

1. Boston +32% → 140 DOM (don’t
   
   
2. Raleigh +19% → 57 DOM
   
   
3. Seattle +14% → 42 DOM
   
   
4. Sacramento +13% → 45 DOM
   
   
5. Denver +11% / San Francisco +11% → 49 / 68 DOM
   
   

Top MoM DOM Improvers (faster)

1. Kansas City –7% → 43 DOM
   
   
2. New Hampshire –14% → 72 DOM
   
   
3. San Diego –4% → 52 DOM
   
   
4. Minneapolis –4% → 32 DOM
   
   
5. West Virginia –4% → 54 DOM
   
   

Methodology
Snapshot as of Oct 5, 2025. MoM vs Sep 5, 2025; YoY vs Oct 5, 2024. Metrics: Avg/Med Rent, Available Rentals, Market Temp, Average Days on Market (DOM) from the amazing data Zillow publicly shares.

[James Hamling]

@Matt Thelen in Minnesota I can report it does not feel like a YOY -9%. 

The biggest thing being felt in Minnesota Twin Cities area is a market bifurcation. 

In the SFR 3br+ class, there has emerged a kind of dividing line around $1,800'ish per month. This line varies a bit depending on specific area as the Twin Cities is a HUGE metro-plex with a ton of variance from quadrant too quadrant.

But in general, things under that mark move quick-quick-quicker. The lower it goes from that mark the faster it moves, to the point of yes, a 48/72hr listing time is still happening. I just did one recently. 

And as you cross above that line, again area and asset specific, things get real slow real fast, to then just a screeching halt. 

That affordability line seems to be a lot deeper a trench then has been in past. 

Not to mention the debt loads I have seen on app's is scary. Heavy consumer debt being carried in mass now. At least that's what I and my team have seen, a very sharp and large increase in this over last 18-24 months. 

The middle segment investors and properties seem to be the ones getting hit hardest. 

The higher quality, we seem to be reaping a reward from this actually. Longer tenancy, because our #1 churn is from tenants buying and that buying has slowed greatly so yeah, winning. 

Bottom segment seems to be business as usual, a regular "Tuesday" of things. 

The middle..... Tenant financials in decline, less activity, higher debt loads, affordability compressing those market rents downward, it's tough. 

My opinion, quality "tortoise" taking the lead again. Those who took the rabbit approach, there cash-flow they were chasing is getting hammered at same time expenses keep ticking up. Slow and steady coming up from behind to take the lead and assuredly win the race yet again. 

What's everyone seeing in other markets?