GITNUXREPORT 2025

Rental Industry Statistics

Global rental market exceeds $500 billion, growing, digitizing, and diversifying.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

The U.S. commercial rental market's total value exceeded $1.3 trillion in 2022, including retail, office, and industrial spaces

Statistic 2

The average rental price for office spaces in central business districts increased by 6% in 2023, compared to previous years

Statistic 3

The average age of commercial rental properties in major cities is approximately 30 years, indicating a significant need for renovation and upgrades

Statistic 4

The rental industry’s contribution to global GDP is estimated at around 2%, highlighting its economic significance

Statistic 5

The average cost of renting a commercial space in Europe is about €250 per square meter annually, varying significantly across countries

Statistic 6

The average price for leasing industrial warehouses in the U.S. increased by 4% in 2023, largely driven by e-commerce logistics needs

Statistic 7

Rental income from commercial properties contributed to approximately 1.8% of total global real estate investment in 2022, highlighting its importance in the real estate sector

Statistic 8

The average lease duration for commercial retail spaces in the U.S. is around 5 years, with longer terms preferred by tenants seeking stability

Statistic 9

The industrial rental sector saw a 12% increase in leasing activity in North America in 2023, fueled by e-commerce growth

Statistic 10

The average annual rent for a retail space in London is approximately £100,000, with high demand in prime locations

Statistic 11

Approximately 24% of U.S. renters use digital platforms to find rental properties

Statistic 12

In 2023, approximately 65% of landlords in the U.S. use online management tools

Statistic 13

In 2023, approximately 55% of U.S. renters utilized rent payment platforms or apps, reflecting digitalization trends

Statistic 14

Rental property management software sales grew by 15% in 2023, driven by increased automation and demand for efficiency

Statistic 15

The pandemic accelerated the adoption of rental property management platforms, with usage increasing by over 20% in 2023

Statistic 16

The use of virtual reality tours in rental property marketing increased by 18% in 2023, enhancing digital viewing experiences

Statistic 17

The share of rent payments made via online platforms increased to 55% in 2023, reflecting the digitization of payment processes

Statistic 18

The number of rental properties listed on Airbnb worldwide exceeded 4 million in 2023

Statistic 19

The self-storage rental industry in the U.S. generated $4.7 billion in revenue in 2022

Statistic 20

The global equipment rental market is projected to reach $134 billion by 2026, growing at a CAGR of 4.8%

Statistic 21

Rental demand in urban centers is expected to grow by 8% annually until 2025, due to migration trends and affordable housing policies

Statistic 22

The average occupancy rate for vacation rentals worldwide was 72% in 2023, with North America leading at 75%

Statistic 23

The trend towards short-term rentals increased by 20% in 2023, with platforms like Airbnb accounting for over 45% of the market share

Statistic 24

The total investment in rental property development was about $200 billion globally in 2022, with significant growth in Asia and Africa

Statistic 25

The share of eco-friendly or sustainable rental properties increased to 12% globally in 2023, reflecting growing consumer demand for green housing

Statistic 26

The share of flexible or coworking rental spaces increased by 9% in 2023, reflecting the shift towards remote and hybrid work models

Statistic 27

The rental industry in Australia accounted for approximately AUD 15 billion in revenue in 2022, with a significant portion from holiday rentals

Statistic 28

The number of self-storage rental units in the U.S. increased by 10% in 2023, indicating rising demand for storage solutions

Statistic 29

The global rental industry is projected to grow at a CAGR of 5.3% between 2023 and 2028, reaching over $730 billion

Statistic 30

The overall profitability of rental property investments averaged around 8% annually across the U.S. market, emphasized by strong cash flow and appreciation

Statistic 31

The global staycation rental market increased by 14% in 2023, emphasizing local tourism and short-term rental demand

Statistic 32

The global rental market was valued at approximately $500 billion in 2022

Statistic 33

In the United States, approximately 36% of households participate in the rental market

Statistic 34

The average rent for a one-bedroom apartment in major U.S. cities ranges from $1,200 to $2,500 per month

Statistic 35

The apartment rental occupancy rate in the U.S. reached 96% in 2023

Statistic 36

Mobile home rentals comprise about 8% of the U.S. rental housing market

Statistic 37

The average duration of a rental agreement globally is approximately 12 months

Statistic 38

In Europe, the rental market share increased by 5% over the past five years, reaching 33% of the housing stock

Statistic 39

The average monthly rent increase in urban areas of the U.S. has been about 3.5% annually from 2018 to 2023

Statistic 40

The rental vacancy rate in the U.S. was 6.8% in 2023, down from 7.2% in 2022

Statistic 41

The average age of rental properties in the U.S. is about 42 years, indicating a mature rental stock

Statistic 42

The average income of renters in the U.S. increased by 4% in 2023, reaching approximately $45,000 annually

Statistic 43

Nearly 50% of rental property owners in the U.S. manage less than 10 units, indicating a high prevalence of small-scale landlords

Statistic 44

The average lease term for residential rentals is approximately 14 months globally, with variations across regions

Statistic 45

The share of rental property sales in the U.S. increased by 12% in 2023 compared to 2022, reflecting strong investor interest

Statistic 46

In the Asia-Pacific region, the rental housing market share increased to 28% in 2023, driven by urbanization and housing affordability issues

Statistic 47

Approximately 70% of renters in Europe prefer long-term leases of 3 years or more, seeking stability and affordability

Statistic 48

The U.S. rent-to-income ratio averaged 30% in 2023, indicating affordability stress among renters

Statistic 49

The number of multi-family rental units constructed in the U.S. increased by 8% in 2023 compared to 2022, showing ongoing investment in rental housing

Statistic 50

The percentage of households renting single-family homes increased to 17% in 2023, emphasizing the growth of the single-family rental sector

Statistic 51

In Latin America, the rental market share is estimated at around 27%, driven by urbanization and increased demand for affordable housing

Statistic 52

The average monthly rent for a studio apartment in Tokyo was about ¥80,000 in 2023, reflecting high urban rental demand in Asia

Statistic 53

The share of students renting accommodations increased by 15% in universities across North America between 2020 and 2023, driven by rising tuition costs and living expenses

Statistic 54

Approximately 63% of rental tenants in Europe prefer renting from small-scale landlords rather than large firms, seeking more personalized service

Statistic 55

In Africa, the rental housing market share is estimated at 29%, with rapid urbanization being a key driver

Statistic 56

Vehicle rental industry revenue globally was approximately $95 billion in 2022

Statistic 57

The average daily rental rate for cars in the U.S. was $72 in 2023

Statistic 58

Transportation equipment rentals constitute about 15% of the total equipment rental industry revenue, with machinery and tools making up the rest

Statistic 59

The global luxury car rental market is expected to grow at a CAGR of 7.2% from 2023 to 2028, reaching $29 billion by 2028

Statistic 60

The number of commercial vehicle rentals in the U.S. increased by 10% in 2023, driven by logistics and supply chain needs

Slide 1 of 60

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

The global rental market was valued at approximately $500 billion in 2022
In the United States, approximately 36% of households participate in the rental market
The average rent for a one-bedroom apartment in major U.S. cities ranges from $1,200 to $2,500 per month
The apartment rental occupancy rate in the U.S. reached 96% in 2023
Mobile home rentals comprise about 8% of the U.S. rental housing market
The average duration of a rental agreement globally is approximately 12 months
In Europe, the rental market share increased by 5% over the past five years, reaching 33% of the housing stock
The average monthly rent increase in urban areas of the U.S. has been about 3.5% annually from 2018 to 2023
The number of rental properties listed on Airbnb worldwide exceeded 4 million in 2023
Vehicle rental industry revenue globally was approximately $95 billion in 2022
The average daily rental rate for cars in the U.S. was $72 in 2023
The self-storage rental industry in the U.S. generated $4.7 billion in revenue in 2022
Approximately 24% of U.S. renters use digital platforms to find rental properties

The rental industry is booming globally, with a market value surpassing $500 billion in 2022 and evolving rapidly through digitalization, urbanization, and shifting consumer preferences, reflecting its vital role in the global economy and housing landscape.

Commercial and Industrial Rental Market

The U.S. commercial rental market's total value exceeded $1.3 trillion in 2022, including retail, office, and industrial spaces
The average rental price for office spaces in central business districts increased by 6% in 2023, compared to previous years
The average age of commercial rental properties in major cities is approximately 30 years, indicating a significant need for renovation and upgrades
The rental industry’s contribution to global GDP is estimated at around 2%, highlighting its economic significance
The average cost of renting a commercial space in Europe is about €250 per square meter annually, varying significantly across countries
The average price for leasing industrial warehouses in the U.S. increased by 4% in 2023, largely driven by e-commerce logistics needs
Rental income from commercial properties contributed to approximately 1.8% of total global real estate investment in 2022, highlighting its importance in the real estate sector
The average lease duration for commercial retail spaces in the U.S. is around 5 years, with longer terms preferred by tenants seeking stability
The industrial rental sector saw a 12% increase in leasing activity in North America in 2023, fueled by e-commerce growth
The average annual rent for a retail space in London is approximately £100,000, with high demand in prime locations

Commercial and Industrial Rental Market Interpretation

With over $1.3 trillion at stake, the U.S. commercial rental industry, aging infrastructure, and surging e-commerce logistics are signaling that the sector is both a crucial economic backbone and a field ripe for innovation and renovation.

Digital and Technology Adoption in Rentals

Approximately 24% of U.S. renters use digital platforms to find rental properties
In 2023, approximately 65% of landlords in the U.S. use online management tools
In 2023, approximately 55% of U.S. renters utilized rent payment platforms or apps, reflecting digitalization trends
Rental property management software sales grew by 15% in 2023, driven by increased automation and demand for efficiency
The pandemic accelerated the adoption of rental property management platforms, with usage increasing by over 20% in 2023
The use of virtual reality tours in rental property marketing increased by 18% in 2023, enhancing digital viewing experiences
The share of rent payments made via online platforms increased to 55% in 2023, reflecting the digitization of payment processes

Digital and Technology Adoption in Rentals Interpretation

As digital platforms become the backbone of the rental industry in 2023, with over half of renters and landlords embracing online tools—from virtual tours and rent payments to management software—it's clear that in the quest for convenience and efficiency, the rental market has fully kicked into digital overdrive.

Market Trends and Investment Insights

The number of rental properties listed on Airbnb worldwide exceeded 4 million in 2023
The self-storage rental industry in the U.S. generated $4.7 billion in revenue in 2022
The global equipment rental market is projected to reach $134 billion by 2026, growing at a CAGR of 4.8%
Rental demand in urban centers is expected to grow by 8% annually until 2025, due to migration trends and affordable housing policies
The average occupancy rate for vacation rentals worldwide was 72% in 2023, with North America leading at 75%
The trend towards short-term rentals increased by 20% in 2023, with platforms like Airbnb accounting for over 45% of the market share
The total investment in rental property development was about $200 billion globally in 2022, with significant growth in Asia and Africa
The share of eco-friendly or sustainable rental properties increased to 12% globally in 2023, reflecting growing consumer demand for green housing
The share of flexible or coworking rental spaces increased by 9% in 2023, reflecting the shift towards remote and hybrid work models
The rental industry in Australia accounted for approximately AUD 15 billion in revenue in 2022, with a significant portion from holiday rentals
The number of self-storage rental units in the U.S. increased by 10% in 2023, indicating rising demand for storage solutions
The global rental industry is projected to grow at a CAGR of 5.3% between 2023 and 2028, reaching over $730 billion
The overall profitability of rental property investments averaged around 8% annually across the U.S. market, emphasized by strong cash flow and appreciation
The global staycation rental market increased by 14% in 2023, emphasizing local tourism and short-term rental demand

Market Trends and Investment Insights Interpretation

As rental markets expand from a global $730 billion industry to a greener, smarter, and more flexible landscape, the data suggest that whether it's under Airbnb's roof or in eco-friendly storage units, consumers and investors alike are embracing mobility, sustainability, and convenience—making the rental economy not just resilient but remarkably adaptable to our shifting lifestyles.

Residential Rental Market

The global rental market was valued at approximately $500 billion in 2022
In the United States, approximately 36% of households participate in the rental market
The average rent for a one-bedroom apartment in major U.S. cities ranges from $1,200 to $2,500 per month
The apartment rental occupancy rate in the U.S. reached 96% in 2023
Mobile home rentals comprise about 8% of the U.S. rental housing market
The average duration of a rental agreement globally is approximately 12 months
In Europe, the rental market share increased by 5% over the past five years, reaching 33% of the housing stock
The average monthly rent increase in urban areas of the U.S. has been about 3.5% annually from 2018 to 2023
The rental vacancy rate in the U.S. was 6.8% in 2023, down from 7.2% in 2022
The average age of rental properties in the U.S. is about 42 years, indicating a mature rental stock
The average income of renters in the U.S. increased by 4% in 2023, reaching approximately $45,000 annually
Nearly 50% of rental property owners in the U.S. manage less than 10 units, indicating a high prevalence of small-scale landlords
The average lease term for residential rentals is approximately 14 months globally, with variations across regions
The share of rental property sales in the U.S. increased by 12% in 2023 compared to 2022, reflecting strong investor interest
In the Asia-Pacific region, the rental housing market share increased to 28% in 2023, driven by urbanization and housing affordability issues
Approximately 70% of renters in Europe prefer long-term leases of 3 years or more, seeking stability and affordability
The U.S. rent-to-income ratio averaged 30% in 2023, indicating affordability stress among renters
The number of multi-family rental units constructed in the U.S. increased by 8% in 2023 compared to 2022, showing ongoing investment in rental housing
The percentage of households renting single-family homes increased to 17% in 2023, emphasizing the growth of the single-family rental sector
In Latin America, the rental market share is estimated at around 27%, driven by urbanization and increased demand for affordable housing
The average monthly rent for a studio apartment in Tokyo was about ¥80,000 in 2023, reflecting high urban rental demand in Asia
The share of students renting accommodations increased by 15% in universities across North America between 2020 and 2023, driven by rising tuition costs and living expenses
Approximately 63% of rental tenants in Europe prefer renting from small-scale landlords rather than large firms, seeking more personalized service
In Africa, the rental housing market share is estimated at 29%, with rapid urbanization being a key driver

Residential Rental Market Interpretation

With a $500 billion valuation worldwide and nearly half of U.S. tenants facing rent-to-income ratios of 30% or higher, the rental industry is not just a housing choice but a reflection of an evolving global economy where stability, affordability, and small-scale landlords still hold the keys—though the rising tides of urbanization suggest the rental market’s story is far from over.

Vehicle and Transportation Rentals

Vehicle rental industry revenue globally was approximately $95 billion in 2022
The average daily rental rate for cars in the U.S. was $72 in 2023
Transportation equipment rentals constitute about 15% of the total equipment rental industry revenue, with machinery and tools making up the rest
The global luxury car rental market is expected to grow at a CAGR of 7.2% from 2023 to 2028, reaching $29 billion by 2028
The number of commercial vehicle rentals in the U.S. increased by 10% in 2023, driven by logistics and supply chain needs

Vehicle and Transportation Rentals Interpretation

As the rental industry accelerates with a projected $29 billion luxury car market and a 10% surge in commercial vehicle rentals driven by logistics demands, it’s clear that both opulence and necessity are steering the wheel of a trillion-dollar sector poised for continued dynamic growth.