Out-of-Market Renters Drive Shifts in Major Metro Rental Demand
News Corporation's October Rental Report reveals a 1.7% year-over-year decline in national median rent to $1,696, marking 27 months of decreases. The report highlights a trend of renters moving to different metro areas due to affordability and remote work, with cities like Raleigh, Hartford, and Richmond attracting more out-of-market renters. This shift indicates changing renter priorities and the appeal of cities with lower rents and flexible living options.
News Corporation’s latest Realtor.com® October Rental Report highlights a continuing shift in the U.S. rental market. National median rent fell 1.7% year-over-year to $1,696, marking the 27th consecutive month of annual declines. The report finds an increasing number of renters are searching for homes outside their current metro areas, driven by affordability concerns and the rise of remote work. Twenty of the 50 largest metros now see more demand from out-of-market renters than before the pandemic. Cities like Raleigh, Hartford, and Richmond lead in attracting renters from other locations, while traditionally local-driven markets such as Detroit and Philadelphia have experienced significant increases in out-of-market interest. This trend underscores changing renter priorities and the growing appeal of cities offering lower rents and flexible living options. 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. News Corporation published the original content used to generate this news brief via PR Newswire (Ref. ID: LA26416) on November 18, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
