The rental market is balanced — rents are behaving.

Rent Inflation · CPI rent, year-over-year

Rent CPI: 2.80% — Rent costs are rising 2.8% a year. That’s the 24th percentile of all its readings since 1982.

How we score this: ok below 4.00% · watch 4.00% to 6.00% · elevated 6.00% to 9.00% · alert 9.00% and up full method

Owners' Equivalent Rent · year-over-year

OER: 3.30% — Owners' equivalent rent costs are rising 3.3% a year. That’s the 50th percentile of all its readings since 1984.

How we score this: ok below 4.00% · watch 4.00% to 6.00% · elevated 6.00% to 9.00% · alert 9.00% and up full method

Rental Vacancy Rate

Vacancy: 7.30% — Rental vacancy is 7.3% — a healthy balance between renters and landlords. That’s the 50th percentile of all its readings since 1956.

How we score this: elevated below 5.00% · watch 5.00% to 6.00% · ok 6.00% to 8.00% · watch 8.00% to 10.00% · elevated 10.00% and up full method

Homeownership Rate

Ownership: 65.00% — The homeownership rate is 65.0%, little changed from a year ago. That’s the 54th percentile of all its readings since 1965.

Why it isn’t scored: A descriptive level shown for context — neither a high nor a low reading is simply good or bad.