The rental market is balanced — rents are behaving.

Rent Inflation · CPI rent, year-over-year

Rent CPI: 2.90% — Rent costs are rising 2.9% a year.

Owners' Equivalent Rent · year-over-year

OER: 3.30% — Owners' equivalent rent is rising 3.3% a year.

Rental Vacancy Rate

Vacancy: 7.30% — Rental vacancy is 7.3% — a healthy balance between renters and landlords.

Homeownership Rate

Ownership: 65.30% — The homeownership rate is 65.3%, up 0.2 points from a year ago.