Rentometer Report: U.S. Single-Family Rents Post First Sustained National Slowdown Since the Post-Pandemic Boom

Rentometer, a leading provider of rental market data, today released its Mid-Year 2026 U.S. Single-Family Rental Market Report, which finds that national single-family rents have posted their first sustained slowdown since the post-pandemic rental boom, with median asking rents down 1.6% year-over-year.

The report analyzes median asking rents for 3-bedroom single-family homes across 1,099 U.S. cities, drawing on millions of rental listings to track pricing trends during the first half of 2026.

Key findings from the report include:

• National single-family rents declined 1.6% year over year during the first half of 2026, as the cooling trend that emerged in the second half of 2025 continued into the new year.
• The typical spring leasing season increase failed to materialize, with the national median asking rent unchanged between the first and second quarters.
• Nearly half of all markets (49%) recorded annual rent declines, with larger cities experiencing the greatest weakness.
• Rising rental supply — including build-to-rent communities and homeowners choosing to rent rather than sell — is giving renters more options and putting downward pressure on asking rents.
• While many Sun Belt markets continued to cool, several Bay Area cities, including San Francisco and San Jose, posted some of the strongest rent growth among major U.S. cities.

"The story is increasingly local. Sun Belt markets that led the country during the pandemic — Tampa, Phoenix, Nashville, Dallas — are still cooling, while San Francisco and San Jose posted some of the strongest rent growth of any large city, up nearly 6%. In a market this divided, hyper-local data is needed now more than ever. Knowing exactly what comparable homes on your street are renting for is the difference between pricing with precision and pricing on assumptions." —Liz Boksanski, President of Rentometer.

The report also explores how regional trends are diverging and what these shifts could mean for renters, landlords, and the broader housing market heading into the second half of the year.

The full report is available at: https://www.rentometer.com/2026-mid-year-single-family-rental-market-report