2025 SFR Rent Growth - Full Year Review

Same Store Rent Growth Trends By Product Type, Market, And More

We analyzed same-store rent growth for over 450,000 single-family rentals listed in 2025.

To calculate this, we look at single-family rentals that were leased in both 2024 and 2025 and measure how their rents changed. This is a useful lens because it tracks the performance of the same properties over time rather than a broad market average.

Nationwide, mean same-store rent growth for single-family homes was 0.75%.

Five of the top 10 worst-performing metros were in South Florida, with other markets like Austin and Asheville posting negative returns.

The Midwest punched above its weight, with several metros posting over 4% same-store rent growth.

Of the top 15 most active states, Illinois, Ohio, and Missouri performed best, while Florida, Arizona, and Texas performed worst, all three posting negative same-store rent growth.

At the city level, the trend continues: the majority of top-performing markets are Rust Belt cities, while the worst performers are in Florida, vacation markets, and metros that saw outsized rent growth during the COVID run-up.

Workforce housing continues to be the top performer. Below, we normalize price based on the MSA and sort each property into the decile for its home value. The trend is clear — virtually everywhere, workforce housing is showing positive rent growth and outperforming more expensive rental bands.

When broken out into thirds, the least expensive third dramatically outperforms the middle, which dramatically outperforms the top third.

This trend holds when looking at raw prices rather than just value deciles.

Below are the top 40 MSAs by rental count. Bottom-decile properties in some metros are averaging over 5% same-store rent growth, but by the time you reach median values, growth drops closer to 1%.

Paid subscribers can access the MSA-level details in the spreadsheet below.