The U.S. single-family rental market continued to cool during the first half of 2026, with the national median rent reaching $2,100, down 1.6% year-over-year.
Rents increased by approximately 1.7% during the first half of 2025 but began declining during the second half of the year, effectively erasing those gains by year-end. That softer pricing environment has carried into 2026.
Another notable feature of the first half of the year was the absence of the typical seasonal lift. The national median rent remained unchanged at $2,100 in both the first and second quarters, even as the market moved through its traditional peak leasing season.
Historically, rents tend to increase during the spring and early summer months as demand picks up. The lack of any seasonal increase suggests pricing momentum remained weak even during some of the year’s busiest leasing months.
Source: Rentometer
Multifamily Market News 