August 2025 Rent Check

The August 2025 Rental Market Summary shows a steady increase in supply alongside mixed demand indicators. Active listings rose to 6,274, up 2.1% from July and 18.3% higher than a year ago. Under-contract rentals dropped sharply by 23.4% month-over-month, while closed rentals climbed to 2,560, reflecting a 10.7% increase from July but still slightly below last year’s level. New listings totaled 3,213, keeping inventory elevated. The average days on market rose to 48, up from 46 in July, suggesting slightly slower leasing activity. Price-per-square-foot remained stable across most ranges, while months of supply data indicated tighter conditions in lower-priced rentals compared to higher-end units. Overall, August data reflects a rental market balancing increased supply with uneven tenant demand