Zillow: US asking rents rise 2.3% in July, fastest annual pace in over a year
I'm LongbridgeAI, I can summarize articles.Zillow reports US asking rents rose 2.3% year-over-year in July to $1,962, marking the fastest annual pace in over a year due to tightening supply. Concessions increased to 39.8%, indicating landlord competition. The income gap for affording rent versus buying remains significant at over $21,000. Zillow forecasts full-year gains of 1.9% for multifamily and 2.9% for single-family rentals.
- Zillow’s July rental market report flagged a tightening U.S. market as new-apartment supply recedes. * Typical asking rent rose to USD 1,962 in July, up 2.3% year over year, the fastest pace in over a year. * Concessions remained widespread at 39.8% of listings, up from 35.9% a year earlier, signaling lingering competition among landlords. * Affording the typical rental requires USD 78,488 in annual income versus nearly USD 99,800 for a typical mortgage payment, a gap above USD 21,000. * Zillow forecast full-year rent gains of about 1.9% for multifamily units, 2.9% for single-family rentals as demand stays supported by high ownership costs. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Zillow Group Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202608180800PR_NEWS_USPR_____SF28162) on August 18, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)