July 2025 Rent Check

The July 2025 Rental Market Summary highlights steady rental activity amid growing supply. Active listings rose to 6,156, up 6.3% from June and nearly 20% higher than last year, while under-contract rentals increased 7.4% month-over-month. Closed rentals reached 2,303, a 5.1% rise from June but 7.9% lower year-over-year. New listings totaled 3,487, adding to the overall supply, while the average days on market ticked up to 46, reflecting slightly slower leasing activity. Price-per-square-foot data showed stability across most rental categories, while months of supply eased compared to June, indicating stronger absorption at mid-tier price ranges. Overall, July’s data suggests a market adjusting to higher inventory levels while maintaining healthy tenant demand.