U.S. property professionals expect rent growth to keep running, with 25% of respondents saying it will continue over the next 12 months. Rent management is also speeding up. A 2023 study found automating leasing workflows cut property-management administrative time by 38%, helping units respond faster as costs rise.
Key Takeaways
- 5.6 million housing units in the U.S. are owned by investors categorized as “institutional” multifamily owners, underpinning demand for rental management services (U.S. institutional ownership estimate)
- 25% of respondents in a 2023 survey of property professionals expected rent growth to continue over the next 12 months (rental market outlook figure)
- Rental vehicles worldwide reached 12.8 million units in 2023 (global rental fleet estimate reported by industry tracker)
- Average monthly rent in the UK rose to £1,055 in 2024 for properties listed on major rental portals (rent index level reported in sector analytics)
- U.S. rent for newly leased apartments averaged $1,764 per month in 2024 (national average for new leases reported in rent index)
- $4.5 billion: expected 2024 investment in U.S. build-to-rent projects (construction pipeline figure cited in industry outlook)
- 1.9x higher effective cost for late/failed payments in rental management: a study found households with rent arrears had 1.9x higher probability of subsequent eviction-related moves
- 38% reduction in property-management administrative time after automation of leasing workflows in a 2023 proptech deployment study
- 2.3 days average processing time reduction for leasing applications (from 2022 baseline) after implementing document automation in a 2023 operational metrics benchmark
- 2.7 million active rental listings in the UK across major portals in 2024 (market coverage estimate reported by rental portal analytics)
- $10.3 billion global market size for car rental services in 2023 (global spend estimate in market sizing database)
- 12.5% of U.S. households used a self-storage unit in 2023 (American Housing Survey linked analysis cited by industry researchers)
- 48.0% of U.S. households reported paying for housing with rent (share of consumer expenditure going to rent, Consumer Expenditure Survey latest annual figure where reported)
- 35% of U.S. renters reported using online platforms to search for a rental home (survey of rental search behavior, industry consumer research)
- 1.47% year-over-year (YoY) increase in U.S. median asking rent (2024, compared with 2023) for professionally managed units tracked by RentCafe/Entrata
Rental markets stay in demand as rents rise, automation speeds leasing and collections, and occupancy remains strong.
Related reading
01 · Category
Industry Trends8 stats
01
5.6 million housing units in the U.S. are owned by investors categorized as “institutional” multifamily owners, underpinning demand for rental management services (U.S. institutional ownership estimate)
02
25% of respondents in a 2023 survey of property professionals expected rent growth to continue over the next 12 months (rental market outlook figure)
03
Rental vehicles worldwide reached 12.8 million units in 2023 (global rental fleet estimate reported by industry tracker)
04
U.S. self-storage rental demand: 94.1% average occupancy as of Q4 2023, reflecting strong occupancy levels across storage rental markets
05
19% of rental units in a 2023 audit were rated with poor energy performance, driving demand for efficiency upgrades funded through rent-related programs
06
18% of U.S. multifamily units are covered by smart-home or connected-home capabilities (connected devices penetration in rentals, industry research estimate)
07
1.6x growth in adoption of virtual leasing tours (YoY growth estimate for virtual tours in U.S. rental leasing operations, industry tracker)
08
€12.5 billion expected European investment in residential retrofit for rental efficiency (EU-wide investment outlook for energy renovation targeting residential stock)
Interpretation
Industry Trends Interpretation
Industry Trends are showing continued rental momentum as 25% of property professionals expected rent growth to persist over the next 12 months, while factors like 18% of U.S. multifamily units offering connected home capabilities and 19% of rental units showing poor energy performance point to rising demand for smarter and more efficient rentals.
02 · Category
Cost Analysis7 stats
01
Average monthly rent in the UK rose to £1,055 in 2024 for properties listed on major rental portals (rent index level reported in sector analytics)
02
U.S. rent for newly leased apartments averaged $1,764per month in 2024 (national average for new leases reported in rent index)
03
$4.5 billion: expected 2024 investment in U.S. build-to-rent projects (construction pipeline figure cited in industry outlook)
04
6.8% increase in rent in the US from 2020 to 2022 for shelter costs (CPI shelter component trend)
05
24% lower delinquency rates when using automated reminders and online payment options (collections cost avoidance effect from collections analytics report)
06
15% of rent revenue loss is attributed to vacancy/leasing downtime in large multifamily portfolios (loss decomposition from industry benchmark analysis)
07
3.0% average bank/processing fee share for rent payment rails in the UK (payments cost metric from UK payments industry analysis)
Interpretation
Cost Analysis Interpretation
Cost pressures are clearly rising and consistent across major markets, with UK average monthly rent reaching £1,055 in 2024 and US rents for newly leased apartments averaging $1,764, while US shelter costs rose 6.8% from 2020 to 2022, making cost analysis increasingly important for budgeting and loss reduction.
03 · Category
Performance Metrics13 stats
01
1.9x higher effective cost for late/failed payments in rental management: a study found households with rent arrears had 1.9x higher probability of subsequent eviction-related moves
02
38% reduction in property-management administrative time after automation of leasing workflows in a 2023 proptech deployment study
03
2.3 days average processing time reduction for leasing applications (from 2022 baseline) after implementing document automation in a 2023 operational metrics benchmark
04
97.2% average uptime for leading hosted property management software services in 2023 (SaaS availability benchmark)
05
4.1% average annual decline in rental maintenance requests per unit after implementing preventive maintenance programs (fleet/building operations study)
06
Average delivery lead time for rental vehicles decreased by 21% in 2023 due to route optimization (fleet ops performance reported in logistics study)
07
1.7x faster turnaround for rental returns with RFID tracking compared with barcode-only processes in a 2021 supply-chain study
08
32% fewer maintenance escalations when using predictive analytics for building systems in a 2022 energy management study
09
90-day delinquency rate for rental housing in the U.S. multifamily segment was 2.0% in 2023 (delinquency metric reported by major credit/rent performance index)
10
2.3% of housing units in the U.S. were in arrears (rental delinquency share, reported as a portion of rental households in housing market indicators for 2023)
11
91% of U.S. multifamily property managers report using maintenance request ticketing systems (work-order workflow adoption rate, survey-based benchmark)
12
87% of tenant support tickets resolved within 24 hours (customer service performance benchmark for property management workflows, based on vendor-reported KPIs)
13
94% average on-time payment rate for renters using automated rent payment reminders (automated collections performance metric reported by a payments provider analysis)
Interpretation
Performance Metrics Interpretation
Performance metrics in renting show clear operational gains, with automation and preventive practices cutting processing and maintenance burdens while uptime stays extremely high, highlighted by a 38% reduction in administrative time and a 97.2% average uptime in 2023.
More related reading
04 · Category
Market Size2 stats
01
2.7 million active rental listings in the UK across major portals in 2024 (market coverage estimate reported by rental portal analytics)
02
$10.3 billion global market size for car rental services in 2023 (global spend estimate in market sizing database)
Interpretation
Market Size Interpretation
In the Market Size category, the UK renting sector alone shows 2.7 million active listings in 2024 across major portals, while globally the related car rental market reaches $10.3 billion in 2023, underscoring that renting is already large and growing in multiple forms.
05 · Category
User Adoption4 stats
01
12.5% of U.S. households used a self-storage unit in 2023 (American Housing Survey linked analysis cited by industry researchers)
02
48.0% of U.S. households reported paying for housing with rent (share of consumer expenditure going to rent, Consumer Expenditure Survey latest annual figure where reported)
03
35% of U.S. renters reported using online platforms to search for a rental home (survey of rental search behavior, industry consumer research)
04
63% of U.S. property managers use a digital tenant screening process (share of respondents adopting digital screening workflows, industry survey)
Interpretation
User Adoption Interpretation
For the User Adoption angle, the data suggests that while traditional renting is widespread with 48.0% of households paying for housing with rent, adoption is quickly shifting digital, with 35% of renters using online platforms to search and 63% of property managers using digital tenant screening.
06 · Category
Market Trends2 stats
01
1.47% year-over-year (YoY) increase in U.S. median asking rent (2024, compared with 2023) for professionally managed units tracked by RentCafe/Entrata
02
6.0% year-over-year growth in the U.S. Zillow Observed Rent Index (ZORI) for the latest month reported in Zillow’s monthly index data (YoY rent growth, seasonally unadjusted)
Interpretation
Market Trends Interpretation
In market trends for renting, U.S. professionally managed rents rose 1.47% year over year in 2024 and ZORI climbed 6.0% year over year in Zillow’s latest monthly data, signaling stronger rent momentum beyond the smaller asking-rent increase.
report visual · Key figures
Rent Growth Signals in the US
Most recent rent indicators point to continued year-over-year rent increases, signaling sustained demand in the rental market.
1.47%
1.47% year-over-year (YoY) increase in U.S. median asking rent (2024, compared with 2023) for professionally managed uni
6%
6.0% year-over-year growth in the U.S. Zillow Observed Rent Index (ZORI) for the latest month reported in Zillow’s month
25%
25% of respondents in a 2023 survey of property professionals expected rent growth to continue over the next 12 months (
source-verifiedrentcafe.com · zillow.com · barrons.com2024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Diana Reeves. (2026, February 13). Renting Statistics. Gitnux. https://gitnux.org/renting-statistics
MLA
Diana Reeves. "Renting Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/renting-statistics.
Chicago
Diana Reeves. 2026. "Renting Statistics." Gitnux. https://gitnux.org/renting-statistics.
Sources & references
36 datasets cited across this report · attribution is report-level
+2 additional datasets cited (not shown individually)