🏠 September 2025 U.S. Rental Market Update

[Matt Thelen]

Leasing slows, DOM creeps up, and smart landlords stay ahead.

1. National Snapshot

Metric	August 2025	September 2025	MoM Change
Average Rent	~$1,970	~$1,940	▼ ~1.5 %
Average DOM	~51 days	~53 days	▲ ~4%

Summary: National rent averages dipped slightly in September as listings continued to rise post-summer. But the big story is time on market — DOM is up nearly everywhere, and year-over-year leasing speed has slowed in 85% of tracked markets.

2. 📈 Why Some Landlords Are Still Winning

While many homes are taking 60–90 days to lease, some landlords are still seeing fast applications, strong rent, and earning more.

In Denver, I saw landlords lease 59% faster (25 days) than the predominant DOM. What’s the difference? It's not luck. It’s about pricing, presentation, and platform reach.

If you're curious how some owners are consistently ahead — even in this softening market — ask me. I'm happy to share what’s working (and what isn't) across hundreds of listed rentals nationwide.

3. 📍 Full State-by-Market Breakdown (Sept 5, 2025)

Alabama

• All – Rent: $1486, MoM Rent: ▼ 0.6 %, DOM: 55, MoM DOM: ▲ 3.8 %, YoY DOM: ▲ 20%

Alaska

• All – Rent: $2000, MoM Rent: ▲ 2.7 %, DOM: 40, MoM DOM: ▼ 4.8 %, YoY DOM: ▲ 21%

Arizona

• Phoenix – Rent: $1900, MoM Rent: ▼ 2.1 %, DOM: 52, MoM DOM: ▲ 6.1 %, YoY DOM: ▲ 6%

Arkansas

• All – Rent: $1400, MoM Rent: – 0.0 %, DOM: 50, MoM DOM: ▲ 6.4 %, YoY DOM: ▲ 22%

California

• Los Angeles – Rent: $2795, MoM Rent: – 0.0 %, DOM: 60, MoM DOM: ▲ 5.3 %, YoY DOM: ▲ 3%
• Oakland – Rent: $2300, MoM Rent: – 0.0 %, DOM: 53, MoM DOM: ▲ 6.0 %, YoY DOM: ▲ 13%
• Sacramento – Rent: $1995, MoM Rent: ▲ 2.3 %, DOM: 40, MoM DOM: ▲ 5.3 %, YoY DOM: ▲ 21%
• San Diego – Rent: $3100, MoM Rent: – 0.0 %, DOM: 54, MoM DOM: ▲ 3.8 %, YoY DOM: ▲ 32%
• San Francisco – Rent: $3650, MoM Rent: ▲ 4.3 %, DOM: 61, MoM DOM: ▲ 1.7 %, YoY DOM: ▲ 27%
• San Jose – Rent: $3200, MoM Rent: ▼ 1.5 %, DOM: 50, MoM DOM: ▲ 16.3 %, YoY DOM: ▲ 52%

Colorado

• Denver – Rent: $2185, MoM Rent: ▼ 2.9 %, DOM: 44, MoM DOM: ▲ 7.3 %, YoY DOM: ▲ 19%

Connecticut

• New Haven – Rent: $1850, MoM Rent: ▲ 32.6 %, DOM: 65, MoM DOM: ▲ 282.4 %, YoY DOM: ▲ 44%

DC

• DC – Rent: $2500, MoM Rent: – 0.0 %, DOM: 59, MoM DOM: ▲ 9.3 %, YoY DOM: ▲ 11%

Delaware

• All – Rent: $1995, MoM Rent: ▼ 0.3 %, DOM: 48, MoM DOM: ▲ 4.3 %, YoY DOM: ▲ 30%

Florida

• Jacksonville – Rent: $1650, MoM Rent: ▼ 0.4 %, DOM: 53, MoM DOM: ▲ 6.0 %, YoY DOM: ▲ 23%
• Miami – Rent: $3200, MoM Rent: ▼ 1.5 %, DOM: 50, MoM DOM: ▼ 5.7 %, YoY DOM: ▼ 7%
• Orlando – Rent: $2000, MoM Rent: – 0.0 %, DOM: 48, MoM DOM: ▲ 6.7 %, YoY DOM: ▲ 20%
• Tampa – Rent: $2150, MoM Rent: ▼ 2.2 %, DOM: 52, MoM DOM: ▲ 10.6 %, YoY DOM: ▲ 11%

Georgia

• Atlanta – Rent: $2100, MoM Rent: – 0.0 %, DOM: 73, MoM DOM: ▲ 2.8 %, YoY DOM: ▲ 22%

Hawaii

• All – Rent: $3125, MoM Rent: ▼ 0.3 %, DOM: 103, MoM DOM: ▲ 2.0 %, YoY DOM: ▲ 26%

Idaho

• All – Rent: $1825, MoM Rent: ▲ 1.9 %, DOM: 37, MoM DOM: ▲ 0.0 %, YoY DOM: ▲ 9%

Illinois

• Chicago – Rent: $2000, MoM Rent: – 0.0 %, DOM: 47, MoM DOM: ▼ 4.1 %, YoY DOM: ▼ 2%

Indiana

• Indianapolis – Rent: $1532, MoM Rent: ▲ 2.1 %, DOM: 50, MoM DOM: ▲ 6.4 %, YoY DOM: ▲ 22%

Iowa

• All – Rent: $1145, MoM Rent: ▼ 0.4 %, DOM: 45, MoM DOM: ▼ 2.2 %, YoY DOM: ▲ 13%

Kansas

• All – Rent: $1395, MoM Rent: – 0.0 %, DOM: 44, MoM DOM: ▲ 2.3 %, YoY DOM: ▲ 13%

Kentucky

• Louisville – Rent: $1299, MoM Rent: ▲ 1.9 %, DOM: 56, MoM DOM: ▲ 3.7 %, YoY DOM: ▲ 27%

Louisiana

• New Orleans – Rent: $1795, MoM Rent: ▲ 2.6 %, DOM: 61, MoM DOM: ▲ 10.9 %, YoY DOM: ▲ 7%

Maine

• All – Rent: $2000, MoM Rent: – 0.0 %, DOM: 52, MoM DOM: ▲ 6.1 %, YoY DOM: ▲ 21%

Maryland

• Baltimore – Rent: $1650, MoM Rent: – 0.0 %, DOM: 79, MoM DOM: ▲ 8.2 %, YoY DOM: ▲ 41%

Massachusetts

• Boston – Rent: $3300, MoM Rent: ▼ 1.5 %, DOM: 140, MoM DOM: ▲ 32.1 %, YoY DOM: ▲ 47%

Michigan

• Detroit – Rent: $1200, MoM Rent: – 0.0 %, DOM: 66, MoM DOM: ▲ 6.5 %, YoY DOM: ▲ 16%

Minnesota

• Minneapolis – Rent: $1557, MoM Rent: ▲ 0.1 %, DOM: 47, MoM DOM: ▼ 4.1 %, YoY DOM: ▲ 0%

Mississippi

• All – Rent: $1500, MoM Rent: – 0.0 %, DOM: 53, MoM DOM: ▲ 0.0 %, YoY DOM: ▲ 8%

Missouri

• Kansas City – Rent: $1395, MoM Rent: ▲ 0.4 %, DOM: 46, MoM DOM: ▲ 2.2 %, YoY DOM: ▲ 7%
• St. Louis – Rent: $1275, MoM Rent: ▼ 0.8 %, DOM: 54, MoM DOM: ▲ 8.0 %, YoY DOM: ▲ 15%

Montana

• All – Rent: $1950, MoM Rent: ▲ 2.0 %, DOM: 43, MoM DOM: ▲ 10.3 %, YoY DOM: ▲ 19%

Nebraska

• All – Rent: $1400, MoM Rent: ▼ 1.2 %, DOM: 39, MoM DOM: ▲ 14.7 %, YoY DOM: ▲ 0%

Nevada

• Las Vegas – Rent: $1985, MoM Rent: ▼ 0.5 %, DOM: 43, MoM DOM: ▲ 4.9 %, YoY DOM: ▲ 5%

New Hampshire

• All – Rent: $2150, MoM Rent: ▲ 2.4 %, DOM: 61, MoM DOM: ▼ 14.1 %, YoY DOM: ▼ 13%

New Jersey

• Newark – Rent: $2106, MoM Rent: ▲ 0.3 %, DOM: 57, MoM DOM: ▼ 5.0 %, YoY DOM: ▼ 2%

New Mexico

• All – Rent: $1750, MoM Rent: ▲ 2.9 %, DOM: 43, MoM DOM: ▲ 4.9 %, YoY DOM: ▲ 16%

New York

• New York – Rent: $3735, MoM Rent: ▼ 1.7 %, DOM: 55, MoM DOM: ▼ 3.5 %, YoY DOM: ▲ 4%

North Carolina

• Charlotte – Rent: $2000, MoM Rent: ▼ 0.7 %, DOM: 48, MoM DOM: ▲ 9.1 %, YoY DOM: ▼ 6%
• Raleigh – Rent: $1880, MoM Rent: ▼ 0.8 %, DOM: 48, MoM DOM: ▲ 2.1 %, YoY DOM: ▼ 23%

North Dakota

• All – Rent: $1120, MoM Rent: ▲ 3.8 %, DOM: 58, MoM DOM: ▼ 7.9 %, YoY DOM: ▼ 9%

Ohio

• Cincinnati – Rent: $1429, MoM Rent: ▲ 2.1 %, DOM: 52, MoM DOM: ▼ 5.5 %, YoY DOM: ▲ 21%
• Cleveland – Rent: $1250, MoM Rent: ▲ 4.2 %, DOM: 66, MoM DOM: ▲ 6.8 %, YoY DOM: ▲ 29%
• Columbus – Rent: $1550, MoM Rent: ▲ 3.3 %, DOM: 51, MoM DOM: ▼ 13.6 %, YoY DOM: ▼ 7%

Oklahoma

• Oklahoma City – Rent: $1450, MoM Rent: – 0.0 %, DOM: 45, MoM DOM: ▲ 4.7 %, YoY DOM: ▲ 7%

Oregon

• Portland – Rent: $1818, MoM Rent: ▲ 1.1 %, DOM: 42, MoM DOM: ▼ 2.3 %, YoY DOM: ▲ 11%

Pennsylvania

• Philadelphia – Rent: $1625, MoM Rent: ▼ 0.1 %, DOM: 60, MoM DOM: ▲ 0.0 %, YoY DOM: ▲ 11%
• Pittsburg – Rent: $1500, MoM Rent: ▼ 1.6 %, DOM: 64, MoM DOM: ▲ 8.5 %, YoY DOM: ▲ 21%

Rhode Island

• Providence – Rent: $2195, MoM Rent: ▲ 2.1 %, DOM: 43, MoM DOM: ▲ 7.5 %, YoY DOM: ▲ 26%

South Carolina

• All – Rent: $1825, MoM Rent: ▼ 2.6 %, DOM: 54, MoM DOM: ▲ 12.5 %, YoY DOM: ▲ 15%

South Dakota

• All – Rent: $1255, MoM Rent: ▼ 1.6 %, DOM: 44, MoM DOM: ▼ 8.3 %, YoY DOM: ▲ 10%

Tennessee

• Nashville – Rent: $2250, MoM Rent: ▼ 2.2 %, DOM: 48, MoM DOM: ▲ 6.7 %, YoY DOM: ▲ 7%

Texas

• Austin – Rent: $2050, MoM Rent: ▼ 2.4 %, DOM: 54, MoM DOM: ▲ 14.9 %, YoY DOM: ▲ 4%
• Dallas – Rent: $1999, MoM Rent: ▼ 0.1 %, DOM: 77, MoM DOM: ▲ 4.1 %, YoY DOM: ▲ 31%
• Houston – Rent: $1900, MoM Rent: – 0.0 %, DOM: 53, MoM DOM: ▲ 10.4 %, YoY DOM: ▲ 10%
• San Antonio – Rent: $1699, MoM Rent: ▼ 0.1 %, DOM: 58, MoM DOM: ▲ 13.7 %, YoY DOM: ▲ 23%

Utah

• Salt Lake City – Rent: $1600, MoM Rent: ▲ 3.2 %, DOM: 35, MoM DOM: ▼ 5.4 %, YoY DOM: ▲ 9%

Vermont

• All – Rent: $2400, MoM Rent: ▲ 14.3 %, DOM: 58, MoM DOM: ▼ 9.4 %, YoY DOM: ▲ 7%

Virginia

• Richmond – Rent: $1650, MoM Rent: ▲ 0.7 %, DOM: 43, MoM DOM: ▲ 4.9 %, YoY DOM: ▲ 8%

Washington

• Seattle – Rent: $2240, MoM Rent: ▲ 2.6 %, DOM: 37, MoM DOM: ▼ 9.8 %, YoY DOM: ▲ 6%

West Virginia

• All – Rent: $1200, MoM Rent: – 0.0 %, DOM: 50, MoM DOM: ▼ 3.8 %, YoY DOM: ▼ 6%

Wisconsin

• Milwaukee – Rent: $1300, MoM Rent: ▲ 0.4 %, DOM: 47, MoM DOM: ▲ 9.3 %, YoY DOM: ▲ 24%

Wyoming

• Cheyenne – Rent: $1275, MoM Rent: ▼ 8.6 %, DOM: 21, MoM DOM: ▲ 23.5 %, YoY DOM: ▼ 30%

4. Explore the data yourself

Need visuals or deeper cuts (ZIP‑code, bedroom splits, etc.)? Let me know & I’ll spin them up.

Data source: Zillow

[Robert Bell]

Great info!  How about the numbers for Memphis TN.