America’s rental market will continue to be competitive for the third and fourth quarters, scoring an overall Rental Competitiveness Index (RCI) of 74.6 in RentCafe’s Rental Competitiveness Report.
The just-released findings analyzed rental competition during the second quarter, which is typically the peak season for rentals, offering a strategic indicator of the rental market for the remainder of the year.
RentCafé reviewed nearly 140 metro areas nationwide and ranked each based on five metrics: apartment occupancy rate; average total days vacant; prospective renters per vacant unit; renewal lease rate; and share of new apartments completed.
While the national occupancy rate has dipped slightly from 93.7 percent last year to 93.4 percent this year, more renters are choosing to stay where they live, as 62.7 percent renewed leases this year, compared with 62 percent in 2024. Days on the market saw a slight uptick from 39 last year to 40 this year….