Press release
Realtor.com® Rent Report: More Renters Looking to Relocate Outside Their City
National median rent dipped 1.7% annually to $1,696 amid a softer rental market, while 20 major metros now see higher out-of-market demand than before the
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[{"type":"text","content":"\n National median rent dipped 1.7% annually to $1,696 amid a softer rental market, while 20 major metros now see higher out-of-market demand than before the pandemic\n \n \n AUSTIN, Texas, Nov. 18, 2025 /PRNewswire/ -- Rents edged down in October, marking the 27th straight month of year-over-year declines and the third consecutive month-over-month dip, according to the Realtor.com® October Rental Report. Meanwhile, the makeup of renters in many markets is shifting – compared with before the pandemic, 20 of the 50 largest metros have transitioned from mostly local renter activity to greater demand from out-of-market shoppers.\n The trend of more renters looking beyond their own backyards appears to be driven by affordability and lifestyle flexibility, with renters increasingly relocating in search of lower rents or remote/flexible work arrangements; the most pronounced changes occurred in Detroit, Philadelphia and Sacramento.\n \"Rent trends have moderated throughout 2025, reflecting a rental market that continues to cool,\" said Danielle Hale, chief economist at Realtor.com®. \"At the same time, shifting affordability across regions is reshaping renter behavior, with a growing share of demand coming from outside local markets. Data show that more renters are willing to look farther afield, in some cases to entirely new markets, for homes that better align with their budgets.\"\n \n October national rent dataIn October, the national median asking rent for 0–2 bedroom properties in the 50 largest U.S. metros was $1,696, down $29 (-1.7%) from one year ago and $9 from last month, reflecting the usual fall slowdown and the softer conditions that have defined 2025. Notably, while the October median rent was $63 (-3.6%) below the August 2022 peak, it remains $245 (16.9%) higher than in 2019.\n \n 20 of the 50 largest metros now driven by more out-of-town demandOver the past six years, 20 of the nation's 50 largest metros have seen rental demand shift from being dominated by local renters to a greater share of out-of-market interest. The sharpest declines in local market share occurred in Detroit (-24.6%), Philadelphia (-23.4%), Sacramento, Calif. (-18.9%), San Francisco (-16.2%), and Charlotte, N.C. (-14.5%), markets that, while not necessarily inexpensive overall, offer relatively lower rents than nearby large metros, making them com...