May 2025 Rent Check

The May 2025 Rental Market Summary provides key insights into rental activity and pricing trends. Active listings increased to 5,361, reflecting a 9.1% rise over the prior month and a 20.3% increase year-over-year. Closed rentals reached 2,260, marking a 10.1% monthly gain but showing a 7.3% decline compared to last year. New rental listings totaled 3,406, while under-contract rentals improved 3.6% month-over-month. The average days on market (DOM) held steady at 45, down from prior quarters, indicating stronger demand. Price-per-square-foot data showed stability across most categories, and months of supply analysis revealed tighter conditions in lower price ranges compared to higher-end rentals. Overall, the data reflects a rental market with increasing supply but steady demand, supporting moderate competition and varied affordability across prices. The May 2025 Rental Market Summary provides key insights into rental activity and pricing trends. Active listings increased to 5,361, reflecting a 9.1% rise over the prior month and a 20.3% increase year-over-year. Closed rentals reached 2,260, marking a 10.1% monthly gain but showing a 7.3% decline compared to last year. New rental listings totaled 3,406, while under-contract rentals improved 3.6% month-over-month. The average days on market (DOM) held steady at 45, down from prior quarters, indicating stronger demand. Price-per-square-foot data showed stability across most categories, and months of supply analysis revealed tighter conditions in lower price ranges compared to higher-end rentals. Overall, the data reflects a rental market with increasing supply but steady demand, supporting moderate competition and varied affordability across price segments