According to a LendingTree analysis of Census information, homeowners with a mortgage paid a mean $2,035 a month in 2024, compared with $1,487 for occupants. That’s a 36.9% premium that translated to $548 more each month, or $6,576 a year.
Meanwhile, RealPage’s 2025 evaluation suggests that the US multifamily market in 2026 would be specified less by a glut of new units and more by occupants choosing to sit tight as owning a home stay out of reach for many.
A Clever Offers research study exposed that 53% of Americans question they’ll ever own their dream home. Likewise, according to the Knightvest Capital’s Multifamily Tenant Belief Report, a growing variety of occupants choose to stay put and accept house living as a long-lasting way of life.
Coastal markets return towards brand-new peaks
Five cities were within 3% of their all-time rent highs. Virginia Beach, Virginia, signed up an average asking rent of $1,620, simply 1.7% listed below peak.
Kansas City, Missouri, stood at $1,387, Baltimore, Maryland, at $1,810, and Richmond, Virginia, at $1,507, while San Jose, California, remained among the country’s priciest markets at $3,331.