Chicago’s typical asking rent reached $2,253 in July, up 5.1% from a year earlier, according to Zillow, one of the faster increases among the large metros the company tracks even though Chicago rarely shows up in headlines about expensive housing markets. The city’s rent growth now outpaces famously tight coastal markets like Los Angeles, up…

San Francisco’s typical asking rent climbed 9.7% over the past year to $3,372, the fastest increase among the large metros Zillow tracks, while Denver fell 0.9%, Austin fell 0.9%, and San Antonio fell 1.8%. All four numbers come from the same July report, which means the national 2.3% rent figure is quietly hiding two opposite…

Comfortably affording the typical home purchase in the U.S. now takes close to $99,800 a year in household income, according to Zillow’s July housing data. That’s the income needed to cover a mortgage payment on a typical home without spending more than 30% of earnings on housing, the standard affordability threshold lenders and researchers generally…

Builders pulled permits for new apartment buildings at a seasonally adjusted annual rate of 490,000 units in July, according to the Census Bureau and HUD’s joint construction report, down roughly 31% from where multifamily permitting stood at its 2022 peak. That’s a federal number, not a real estate company’s estimate, and it points at what…

Two out of every five rental listings on Zillow offered some kind of concession in July, whether that’s a free month, waived fees, or a gift card for signing a lease. That’s up from roughly one in three a year ago, even as rents themselves are rising at their fastest pace in more than a…

The typical rent on a single-family house rose 3% over the past year, while the typical rent on an apartment climbed just 1.7%, according to Zillow’s July rental report. That’s nearly double the pace, and it marks a break from the past two years, when a historic wave of new apartment construction kept multifamily rents…