The monthly median asking rent for unfurnished apartments in the United States in the first quarter of 2025 amounted to ***** U.S. dollars. This was an increase of about *** U.S. dollars in just five years. In 2020, the median rent stood at ***** U.S. dollars. The U.S. rental market As rental apartment vacancy rates fall, rents are on the rise. This makes it more difficult for Americans to, first, find an apartment to rent, and second, find an apartment which they can afford. Nevertheless, renting has become much more common in recent years, with the number of renter households having substantially increased in the past two decades. In 2025, there were approximately **** million renter households in the U.S. Rents in different states Of course, rents vary from state to state. The most expensive rents are found in Hawaii, California, District of Colombia, New Jersey, and Florida. Following the COVID-19 pandemic, growth was the strongest in the Sun Belt states, and especially in states with lower costs of living, such as Texas. In Austin, TX, the average rent soared by nearly ** percent in 2021, and remained elevated, despite a slight decline in 2023.

The average monthly home rental payment in the United Kingdom (UK) increased steadily since 2008, reaching 1, 258 British pounds in December 2023. In comparison, the average home buying costs amounted to 1,231 British Pounds that year, meaning that homeowners saved 27 British pounds monthly from the difference.

In 2023, the rental price index in Luxembourg increased by *** index points year-on-year. The index measures the development of the average rent paid by households, with 2015 used as a baseline year and an index value of 100. These figures are seasonally adjusted, which means that the effect of seasonal variations was eliminated from the data. In 2023, the rent price index reached ***** index points, suggesting an increase of ** percent since 2015.

Between 2008 and 2024, the average weekly rent for private renters in England has shown a significant increase. In the 2009, the average rent was 153 British pounds, and by 2024, it had risen to 237 British pounds. Excluding London, the average rent started at 130 British pounds in 2009 and reached 191 British pounds in 2024, demonstrating a similar upward trend but at a lower rate compared to the overall average in England. Rental households in England Renting is common in England. Nearly one in five households occupied a dwelling that was privately rented in 2024. While the majority of households in the country live in an owner-occupied home, this percentage has declined since the early 2000s. Meanwhile, the share of households occupying a private rental has doubled over the past decade. This shows a growing rental sector and a shift in tenure trends in the country. Buying vs renting costs For a long time, the average monthly costs of buying a home were lower than renting. In 2021, housing costs started to increase steeply, closely followed by rental costs. This resulted in the gap nearly closing in 2023. This trend can also be observed through the house price to rent ratio - an index that follows the development of house prices relative to rents, with 2015 as a baseline year. Between 2015 and 2022, the ratio grew steadily, indicating that property prices rise faster than rents. However, with rental growth accelerating and catching up with property prices in 2022, the index declined notably.

Slovenia SI: Rent Price Index: sa data was reported at 173.666 2015=100 in 2025. This records an increase from the previous number of 170.500 2015=100 for 2024. Slovenia SI: Rent Price Index: sa data is updated yearly, averaging 99.833 2015=100 from Dec 2000 (Median) to 2025, with 26 observations. The data reached an all-time high of 173.666 2015=100 in 2025 and a record low of 56.560 2015=100 in 2000. Slovenia SI: Rent Price Index: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Slovenia – Table SI.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual.

Rental vacancy rates across the United States showed significant regional differences in 2024, with the South experiencing the highest rate at 8.7 percent. This disparity reflects broader demographic shifts and economic factors influencing the rental market. The regional variations in vacancy rates have persisted despite an overall decline since 2014, highlighting the complex dynamics of the U.S. housing landscape. Rental demand and affordability challenges The rental market continues to face pressure from high demand, particularly among younger demographics. People under 30 comprise the largest share of American renters, with approximately 42 million in this age group. Despite softening rents in some areas, affordability remains a significant issue. In 2023, 42.5 percent of renters paid gross rent exceeding 35 percent of their income, indicating widespread financial strain among tenants. Regional disparities and market trends The Northeast and West regions, which include many large urban areas, have consistently lower vacancy rates compared to the Midwest and South. This trend aligns with population shifts towards these regions, fueling higher home prices growth. The rental market has shown signs of stabilization in 2023, with the number of vacant homes for rent slightly picking up after two years of record-low vacancy.

Hungary HU: Rent Price Index: sa data was reported at 187.147 2015=100 in 2024. This records an increase from the previous number of 166.511 2015=100 for 2023. Hungary HU: Rent Price Index: sa data is updated yearly, averaging 95.757 2015=100 from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 187.147 2015=100 in 2024 and a record low of 41.561 2015=100 in 2000. Hungary HU: Rent Price Index: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Hungary – Table HU.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual.

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q2 2025 about sales, housing, and USA.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

London is the most expensive city for office real estate in Europe. In 2023, the per square foot cost of office space in London was higher than in any other European city. In West End, a Grade A office cost about 90 British pounds per square foot in 2023. Prime offices were even more expensive, at 135 British pounds per square meter. Office yields Prime yields in Central London fluctuate depending on the district, but West End areas tend to have lower yields compared to other areas, such as Stratford or Canary Wharf. The prime office yield in Mayfair/St. James' in 2023 was the lowest among the major London office submarkets. In real estate, yields measure the potential return of a rental property and are calculated as the ratio of the property's rental income to the investment cost. Typically, prime office yields in London are lower than the rest of the UK, which is mostly due to the highly competitive market and high investment costs. Vacancy rates Despite the high office rental costs in England’s capital city, vacancy rates in many of London's main office markets were below seven percent in 2023. This is good news for the office sector, as during the coronavirus (COVID-19) pandemic, the share of vacant office space across all Central London districts spiked dramatically. Compared to other European cities, London was in the middle of the ranking, alongside Frankfurt and Lisbon.

Average House Prices in Canada increased to 688800 CAD in October from 687600 CAD in September of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

Cambodia Consumer Price Index (CPI): Phnom Penh: HU: Housing: Rent Average data was reported at 119.730 Jul2000-Dec2000=100 in Nov 2008. This stayed constant from the previous number of 119.730 Jul2000-Dec2000=100 for Oct 2008. Cambodia Consumer Price Index (CPI): Phnom Penh: HU: Housing: Rent Average data is updated monthly, averaging 112.880 Jul2000-Dec2000=100 from Jan 2001 (Median) to Nov 2008, with 95 observations. The data reached an all-time high of 119.730 Jul2000-Dec2000=100 in Nov 2008 and a record low of 99.890 Jul2000-Dec2000=100 in Feb 2001. Cambodia Consumer Price Index (CPI): Phnom Penh: HU: Housing: Rent Average data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Cambodia – Table KH.I006: Consumer Price Index: Phnom Penh: Jul-Dec 2000=100.

In 2024, the rental index in Germany reached 107.5 index points. The index was set to 100 in 2020, which means that compared to then, rent in Germany increased by 7.5 percent. Munich saw the highest average rent price among the larger German cities.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

Pakistan Consumer Price Index (CPI): House Rent data was reported at 229.790 1990-1991=100 in Jan 2002. This records an increase from the previous number of 229.210 1990-1991=100 for Dec 2001. Pakistan Consumer Price Index (CPI): House Rent data is updated monthly, averaging 174.320 1990-1991=100 from Jul 1991 (Median) to Jan 2002, with 127 observations. The data reached an all-time high of 229.790 1990-1991=100 in Jan 2002 and a record low of 105.440 1990-1991=100 in Jul 1991. Pakistan Consumer Price Index (CPI): House Rent data remains active status in CEIC and is reported by Pakistan Bureau of Statistics. The data is categorized under Global Database’s Pakistan – Table PK.I009: Consumer Price Index: 1990-91=100. Rebased from 1990-91=100 to 2000-2001=100. Replacement series ID: 46263001

The quarterly pulse monitor expects the Dutch house prices to fall by five percent in 2023 due to the decline in purchasing power, higher cost of borrowing and worsening economic conditions. The price of Dutch residential property in 2022 was approximately 489,000 euros. These developments came on top of other issues that were already prevalent in the Dutch housing market, such as the discussion about nitrogen and its effect on housing construction. The effects of nitrogen on the price of a house At the end of 2019, months before the coronavirus, there was already a lot of uncertainty whether their predictions would hold true. This had to do with the so-called “nitrogen decision” (in Dutch: stikstofbesluit) in May 2019. Simply put, a Dutch advisory body found that the domestic policy for nitrogen emission (formally known as Programmatische Aanpak Stikstof or Programmatic Approach Nitrogen) went against European rules. As of August 2019, a sizable share of the Dutch population was not familiar with this nitrogen policy. However, the advisory body’s decision led to an immediate stop to all construction in the country (amongst other things). By the end of 2019, this stop was still in place. For 2020, newly to be constructed houses have to comply to new rules regarding nitrogen emission. This puts new pressure on a housing market that already had to keep with increasing demand. How about the housing market in Amsterdam? In the year 2022, Amsterdam ranked as the most expensive city in the Netherlands to acquire an apartment, with an average price per square meter that was 2,000 euros more expensive than in Utrecht. Amsterdam was also well above the average rents found in other cities. A house in Amsterdam had a rent of approximately 26 euros per square meter in 2023, whereas rents in Rotterdam cost roughly 18 euros per square meter. It should be noted, however, that rent changes in the Dutch capital are significantly lower than those found in Rotterdam and especially Utrecht.

Prime locations for shopping centers include main streets and city centers of European cities, and factors such as the main flow of customers, the amount of space to handle the sales volume expected, as well as the direct competition and neighbors all have a great impact on projected sales. Specifically, space requirements must be carefully tailored to usage requirements, as rent typically proves to be high.

Rental prices of prime shopping centers real estate in Europe

According to the data presented, the most expensive retail space in shopping centers was rented out in Frankfurt, where on average prices were 280 euros per square meter per month as of June 2021. In comparison, the most expensive cities for high street retail were London and Paris, where monthly prime rents were close to 2,000 euros per square meter.

Coronavirus and commercial real estate

Among the many impacts of the coronavirus (COVID-19) are the drop in foot traffic and sales at high street shops and shopping centers due to the lockdown and social distancing measures, but also the increase of e-commerce. Shopping out of the convenience of your own home increases the focus on the importance of logistical warehousing real estate.