The national median asking rent decreased 1.1% year-over-year to $1,695 per month, the 17th consecutive month of rent declines and the first time since April 2022 that national median asking rents fell below $1,700, according to Realtor®.com’s December 2024 Rental Report. Among the 50 largest metropolitan areas, the median rent for a studio was $1,419, followed by 1-bedroom and 2-bedroom units at $1,579 and $1,880, respectively.
In the Twin Cities region, for the week ending February 8:
• New Listings decreased 8.2% to 1,008
• Pending Sales decreased 8.4% to 695
• Inventory decreased 0.4% to 6,852
For the month of January:
• Median Sales Price increased 5.0% to $370,000
• Days on Market increased 17.9% to 66
• Percent of Original List Price Received increased 0.3% to 96.9%
• Months Supply of Homes For Sale decreased 5.3% to 1.8