Rent Tracker
Rent Inflation in United States
The average asking rent in the United States is $1,948/month as of 2026-08. That is +2.5% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,948/mo
as of 2026-08
Year-over-Year Change
+2.5%
24-Month Rent Trend
Monthly ZORI index values for United States.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,948 | +0.21% |
| 2026-07 | $1,944 | +0.26% |
| 2026-06 | $1,939 | +0.41% |
| 2026-05 | $1,931 | +0.47% |
| 2026-04 | $1,922 | +0.58% |
| 2026-03 | $1,911 | +0.53% |
| 2026-02 | $1,901 | +0.37% |
| 2026-01 | $1,894 | +0.11% |
| 2025-12 | $1,892 | -0.11% |
| 2025-11 | $1,894 | -0.21% |
| 2025-10 | $1,898 | -0.11% |
| 2025-09 | $1,900 | -0.05% |
| 2025-08 | $1,901 | +0.05% |
| 2025-07 | $1,900 | +0.11% |
| 2025-06 | $1,898 | +0.26% |
| 2025-05 | $1,893 | +0.37% |
| 2025-04 | $1,886 | +0.48% |
| 2025-03 | $1,877 | +0.59% |
| 2025-02 | $1,866 | +0.43% |
| 2025-01 | $1,858 | +0.22% |
| 2024-12 | $1,854 | -0.11% |
| 2024-11 | $1,856 | -0.16% |
| 2024-10 | $1,859 | -0.16% |
| 2024-09 | $1,862 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices