U.S. Rental Market Continues to Favor Renters Amid New Supply Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 13 2026
0mins
Source: Newsfilter
- Rent Decline Continues: In April 2026, the national median asking rent across the 50 largest metropolitan areas fell to $1,673, a decrease of $29 (1.7%) year-over-year, marking the 33rd consecutive month of annual declines, indicating a sustained renter-friendly environment.
- Strong Multi-Family Construction: New multi-family groundbreakings surged nearly 20% in Q1 2026, reaching 462,000 units, and while overall construction activity has pulled back, it remains above pre-pandemic levels, suggesting continued downward pressure on rents.
- Regional Disparities: The Northeast saw new multi-family groundbreakings nearly double year-over-year with a 42.1% increase in completed units, contrasting sharply with the West, where new groundbreakings hit their lowest level since 2017, highlighting significant regional differences in rental market dynamics.
- Optimistic Future Outlook: The total U.S. rental housing stock is projected to exceed 50.5 million units by Q1 2027, an 8.5% increase from pre-pandemic levels, and while rents may rise modestly in the short term, the long-term trend indicates continued relief for renters due to sustained construction activity.
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Analyst Views on NWS
About NWS
News Corporation is a diversified media and information services company. Its Digital Real Estate Services segment consists of the Company's interest in REA Group and Move. REA Group is a digital media business specializing in property and property-related services on its Websites and mobile apps. Move is a provider of digital real estate services in the United States and primarily operates Realtor.com, a real estate information, advertising and services platform, its referral-based services, online tools and services to do-it-yourself landlords and tenants. Its Dow Jones segment includes Dow Jones, a global provider of news and business information, which distributes its content and data through a variety of media channels. Its Book Publishing segment consists of HarperCollins, a consumer book publisher with operations in 15 countries. Its News Media segment consists of News Corp Australia, News UK and the New York Post and includes The Australian, The Daily Telegraph, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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