Rental demand is up 20% as high lending costs stifle the for-sale market
PR Newswire•15/10/2026•08:00 ET
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Key Highlights
- ➤National rental demand rose 19.2% year over year, according to Zillow’s ZORDI
- ➤Typical U.S. rent reached $1,932, up 2.7% year over year
- ➤Typical new-home payment climbed 5% year over year to $3,037
- ➤Single-family rental demand increased 21.6%, outpacing multifamily’s 10.1% growth
- ➤San Jose rental demand surged 82.5%, leading major markets
Expert Statements
Kara Ng, Senior economist at Zillow
“Elevated mortgage rates have pushed home shoppers straight into the arms of rentals. Homeownership has long been a way for families to build wealth, but with the rise in borrowing costs, we're seeing the rise of the deliberate renter, someone who chooses to bank the difference between a buyer's monthly payment and rent, and build wealth without owning a home.”
Rental demand is up 20% as high lending costs stifle the for-sale market PR Newswire
With the typical monthly payment for a new homeowner climbing nearly twice as fast as rent, more shoppers are turning to rentals
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