The house price to rent ratio index in the U.S. declined since the second half of 2022, indicating that house price growth slowed down compared to rental growth. That was the first decrease after a long period of a steady increase. House prices increased dramatically since the coronavirus pandemic. Meanwhile, rents have grown notably, but at a slower rate.What does the house price to rent ratio index measure?The house-price-to-rent-ratio measures the evolution of house prices compared to rents. It is calculated by dividing the median house price by the median annual rent. In this statistic, the values have been normalized with 100 equaling the 2015 ratio. Consequentially, a value under 100 means that rental rates have risen more than house prices. Compared to the OECD countries average, the gap between house prices and rents in the United States was wider. The house price to rent ratio in different countries The house price to rent ratio in the United Kingdom continued to increase in the second half of 2022, but growth softened, as the housing market cooled. On the other hand, the index in Germany fell drastically between the second quarter of 2022 and the second quarter of 2023. A similar trend was observed in France.

VITAL SIGNS INDICATOR List Rents (EC9)

FULL MEASURE NAME List Rents

LAST UPDATED October 2016

DESCRIPTION List rent refers to the advertised rents for available rental housing and serves as a measure of housing costs for new households moving into a neighborhood, city, county or region.

DATA SOURCE real Answers (1994 – 2015) no link

Zillow Metro Median Listing Price All Homes (2010-2016) http://www.zillow.com/research/data/

CONTACT INFORMATION vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator) List rents data reflects median rent prices advertised for available apartments rather than median rent payments; more information is available in the indicator definition above. Regional and local geographies rely on data collected by real Answers, a research organization and database publisher specializing in the multifamily housing market. real Answers focuses on collecting longitudinal data for individual rental properties through quarterly surveys. For the Bay Area, their database is comprised of properties with 40 to 3,000+ housing units. Median list prices most likely have an upward bias due to the exclusion of smaller properties. The bias may be most extreme in geographies where large rental properties represent a small portion of the overall rental market. A map of the individual properties surveyed is included in the Local Focus section.

Individual properties surveyed provided lower- and upper-bound ranges for the various types of housing available (studio, 1 bedroom, 2 bedroom, etc.). Median lower- and upper-bound prices are determined across all housing types for the regional and county geographies. The median list price represented in Vital Signs is the average of the median lower- and upper-bound prices for the region and counties. Median upper-bound prices are determined across all housing types for the city geographies. The median list price represented in Vital Signs is the median upper-bound price for cities. For simplicity, only the mean list rent is displayed for the individual properties. The metro areas geography rely upon Zillow data, which is the median price for rentals listed through www.zillow.com during the month. Like the real Answers data, Zillow's median list prices most likely have an upward bias since small properties are underrepresented in Zillow's listings. The metro area data for the Bay Area cannot be compared to the regional Bay Area data. Due to afore mentioned data limitations, this data is suitable for analyzing the change in list rents over time but not necessarily comparisons of absolute list rents. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Due to the limited number of rental properties surveyed, city-level data is unavailable for Atherton, Belvedere, Brisbane, Calistoga, Clayton, Cloverdale, Cotati, Fairfax, Half Moon Bay, Healdsburg, Hillsborough, Los Altos Hills, Monte Sereno, Moranga, Oakley, Orinda, Portola Valley, Rio Vista, Ross, San Anselmo, San Carlos, Saratoga, Sebastopol, Windsor, Woodside, and Yountville.

Inflation-adjusted data are presented to illustrate how rents have grown relative to overall price increases; that said, the use of the Consumer Price Index 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 CPI itself. Percent change in inflation-adjusted median is calculated with respect to the median price from the fourth quarter or December of the base year.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

What is Rental Data?

Rental data encompasses detailed information about residential rental properties, including single-family homes, multifamily units, and large apartment complexes. This data often includes key metrics such as rental prices, occupancy rates, property amenities, and detailed property descriptions. Advanced rental datasets integrate listings directly sourced from property management software systems, ensuring real-time accuracy and eliminating reliance on outdated or scraped information.

Additional Rental Data Details

The rental data is sourced from over 20,000 property managers via direct feeds and property management platforms, covering over 30 percent of the national rental housing market for diverse and broad representation. Real-time updates ensure data remains current, while verified listings enhance accuracy, avoiding errors typical of survey-based or scraped datasets. The dataset includes 14+ million rental units with detailed descriptions, rich photography, and amenities, offering address-level granularity for precise market analysis. Its extensive coverage of small multifamily and single-family rentals sets it apart from competitors focused on premium multifamily properties.

Rental Data Includes:

• Property Types
• Single-Family Rentals
• Small Multi-family Units
• Premium Apartments
• 16,000+ ZIP Codes
• 800+ MSAs
• Pricing Trends
• Lease Terms Amenities

Displacement risk indicator classifying census tracts according to apartment rent prices in census tracts. We classify apartment rent along two dimensions:The median rents within the census tract for the specified year, balancing between nominal rental price and rental price per square foot.The change in median rent price (again balanced between nominal rent price and price per square foot) from the previous year.Note: Median rent calculations include market-rate and mixed-income multifamily apartment properties with 5 or more rental units in Seattle, excluding special types like student, senior, corporate or military housing.Source: Data from CoStar Group, www.costar.com, prepared by City of Seattle, Office of Planning and Community Development

Graph and download economic data for Producer Price Index by Commodity: Real Estate Services (Partial): Office Buildings, Gross Rents (WPU43110101) from Dec 2008 to Feb 2025 about rent, real estate, gross, buildings, services, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Commodity: Real Estate Services (Partial): Residential Property Sales and Rental, Brokerage Fees and Commissions (WPS4321) from Jan 2009 to Feb 2025 about brokers, fees, rent, real estate, residential, sales, services, commodities, PPI, inflation, price index, indexes, price, and USA.

The global housing rental service market is experiencing robust growth, driven by factors such as increasing urbanization, a preference for flexible living arrangements, and the rise of the sharing economy. The market size in 2025 is estimated at $1.5 trillion, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This significant growth is fueled by several key trends, including the expanding adoption of online rental platforms, the increasing availability of short-term rental options catering to both personal and commercial needs, and the growing demand for professionally managed rental properties. The market segmentation reveals strong demand across both short-term and long-term rental sectors, with personal rentals currently dominating but the commercial segment exhibiting high growth potential. Key players like Invitation Homes and Blueground are shaping the market landscape through innovative property management strategies and technological advancements. Geographic variations exist, with North America and Europe currently leading the market due to established infrastructure and higher disposable incomes. However, emerging markets in Asia Pacific are poised for rapid expansion driven by increasing urbanization and a burgeoning middle class. Geographic expansion and technological advancements are primary drivers contributing to market expansion. Restraints include regulatory hurdles related to short-term rentals in specific regions and fluctuations in interest rates that can impact rental affordability. The increasing adoption of proptech solutions, including smart home technologies and data-driven property management, is expected to further streamline operations and enhance the overall rental experience. The diversification of rental options, ranging from fully furnished apartments to co-living spaces, underscores the evolving needs of the contemporary renter and signifies future market growth opportunities. The continued refinement of property management services combined with the broader accessibility of online rental platforms will solidify the housing rental service market’s position as a vital sector within the global real estate landscape.

Explore the Real Estate Rental Market trends! Covers key players, growth rate 7.4% CAGR, market size $3877.45 Billion, and forecasts to 2034. Get insights now!

Switzerland Real Estate Price Index: Central Swiss: Rental Apartment: New Building data was reported at 572.660 1970=100 in 2016. This records a decrease from the previous number of 589.319 1970=100 for 2015. Switzerland Real Estate Price Index: Central Swiss: Rental Apartment: New Building data is updated yearly, averaging 393.667 1970=100 from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 623.702 1970=100 in 2014 and a record low of 100.000 1970=100 in 1970. Switzerland Real Estate Price Index: Central Swiss: Rental Apartment: New Building data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.EB002: Real Estate Price Index: By Region: Residential: Annual.

United States Housing Vacancy Rate: Rental data was reported at 6.800 % in Jun 2018. This records a decrease from the previous number of 7.000 % for Mar 2018. United States Housing Vacancy Rate: Rental data is updated quarterly, averaging 7.400 % from Mar 1956 (Median) to Jun 2018, with 250 observations. The data reached an all-time high of 11.100 % in Sep 2009 and a record low of 5.000 % in Dec 1981. United States Housing Vacancy Rate: Rental data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

The summary statistics by North American Industry Classification System (NAICS) which include: operating revenue (dollars x 1,000,000), operating expenses (dollars x 1,000,000), salaries wages and benefits (dollars x 1,000,000), and operating profit margin (by percent), of lessors of residential buildings and dwellings (except social housing projects) (NAICS 531111), annual, for five years of data.

In 2024, the average rent for rental apartments increased in 27 of the 50 U.S. metropolitan areas with the largest populations. Providence-Warwick, RI-MA was the metro with the highest rental growth, an annual increase of 5.12 percent as of April that year. Conversely, Austin-Round Rock-Georgetown, TX experienced the highest decline in rents, at 7.42 percent.

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Real Estate Market Size 2025-2029

The real estate market size is forecast to increase by USD 1,258.6 billion at a CAGR of 5.6% between 2024 and 2029.

The market is experiencing significant shifts and innovations, with both residential and commercial sectors adapting to new trends and challenges. In the commercial realm, e-commerce growth is driving the demand for logistics and distribution centers, while virtual reality technology is revolutionizing property viewings. Europe's commercial real estate sector is witnessing a rise in smart city development, incorporating LED lighting and data centers to enhance sustainability and efficiency. In the residential sector, wellness real estate is gaining popularity, focusing on health and well-being. Real estate software and advertising services are essential tools for asset management, streamlining operations, and reaching potential buyers. Regulatory uncertainty remains a challenge, but innovation in construction technologies, such as generators and renewable energy solutions, is helping mitigate risks.

What will be the Size of the Real Estate Market During the Forecast Period?

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The market continues to exhibit strong activity, driven by rising population growth and increasing demand for personal household space. Both residential and commercial sectors have experienced a rebound in home sales and leasing activity. The trend towards live-streaming rooms and remote work has further fueled demand for housing and commercial real estate. Economic conditions and local market dynamics influence the direction of the market, with interest rates playing a significant role in investment decisions. Fully furnished, semi-furnished, and unfurnished properties, as well as rental properties, remain popular options for buyers and tenants. Offline transactions continue to dominate, but online transactions are gaining traction.
The market encompasses a diverse range of assets, including land, improvements, buildings, fixtures, roads, structures, utility systems, and undeveloped property. Vacant land and undeveloped property present opportunities for investors, while the construction and development of new housing and commercial projects contribute to the market's overall growth.

How is this Real Estate Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Residential
  Commercial
  Industrial


Business Segment

  Rental
  Sales


Manufacturing Type

  New construction
  Renovation and redevelopment
  Land development


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Type Insights

The residential segment is estimated to witness significant growth during the forecast period.

The market encompasses the buying and selling of properties designed for dwelling purposes, including buildings, single-family homes, apartments, townhouses, and more. Factors fueling growth in this sector include the increasing homeownership rate among millennials and urbanization trends. The Asia Pacific region, specifically China, dominates the market due to escalating homeownership rates. In India, the demand for affordable housing is a major driver, with initiatives like Pradhan Mantri Awas Yojana (PMAY) spurring the development of affordable housing projects catering to the needs of lower and middle-income groups. The commercial real estate segment, consisting of office buildings, shopping malls, hotels, and other commercial properties, is also experiencing growth.

Furthermore, economic and local market conditions, interest rates, and investment opportunities in fully furnished, semi-furnished, unfurnished properties, and rental properties influence the market dynamics. Technological integration, infrastructure development, and construction projects further shape the real estate landscape. Key sectors like transportation, logistics, agriculture, and the e-commerce sector also impact the market.

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The Residential segment was valued at USD 1440.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 64% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific region holds the largest share of The market, dr

Switzerland Real Estate Price Index: Rental Apartment data was reported at 435.414 1970=100 in 2016. This records a decrease from the previous number of 440.972 1970=100 for 2015. Switzerland Real Estate Price Index: Rental Apartment data is updated yearly, averaging 304.058 1970=100 from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 453.108 1970=100 in 1992 and a record low of 100.000 1970=100 in 1970. Switzerland Real Estate Price Index: Rental Apartment data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.EB002: Real Estate Price Index: By Region: Residential: Annual. Rebased from 1970=100 to 2000=100 Replacement series ID: 388330567

Switzerland Real Estate Price Index: Bern: Rental Apartment: Old Building data was reported at 394.272 1970=100 in 2016. This records a decrease from the previous number of 394.663 1970=100 for 2015. Switzerland Real Estate Price Index: Bern: Rental Apartment: Old Building data is updated yearly, averaging 300.247 1970=100 from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 427.109 1970=100 in 1992 and a record low of 100.000 1970=100 in 1970. Switzerland Real Estate Price Index: Bern: Rental Apartment: Old Building data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.EB002: Real Estate Price Index: By Region: Residential: Annual.

In Portugal, the average price per square meter of housing for rent was 15.5 euros in December 2023. The Lisbon region registered the highest value at over 18 euros per month. In April 2024, average prices increased in all regions, amounting to a national average of more than 16 euros per square meter. The Lisbon region continued to dominate, now with over 19 euros, while the Azores recorded the cheapest rental square meter price at 9.2 euros.

This table contains 168 series, with data for years 2007 - 2012 (not all combinations necessarily have data for all years) , and was last released on 2015-09-28. This table contains data described by the following dimensions (Not all combinations are available): Geography (14 items: Canada; Newfoundland and Labrador; Prince Edward Island; Nova Scotia; ...), North American Industry Classification System (NAICS) (3 items: Lessors of residential buildings and dwellings (except social housing projects); Non-residential leasing; Real estate property managers), Summary statistics (4 items: Operating revenue; Operating expenses; Salaries, wages and benefits; Operating profit margin).

An experimental price index tracking the prices paid for renting property from private landlords in the United Kingdom

Private rent price statistics, including indices, annual percentage change and price levels.