An overview of Rent.’s methodology for determining rent price trends.
Beginning in October 2022, Rent. is updating its methodology to determine rent price trends across the country. Our new methodology relies on a larger sample size of inventory and combines bedroom types into one simple median to make it easier to analyze trends and compare similar regions.
All rent price reports and articles published in October 2022 and after will use this new methodology. The historical data contained in these articles will be an accurate comparison to present trends; however, comparing this data against any articles published before October 2022 will not provide an accurate correlation of rental market trends.
Rent. uses the following methods to calculate median rent prices at these geographic levels:
- National median rent is based on an aggregation of rent prices in the 50 largest cities in America. These areas cover the majority of the country’s population and have the most inventory, which helps eliminate outliers.
- State median rent is based on an aggregation of rent prices in each city in that given state. We eliminated states that did not meet our minimum inventory count threshold.
- Metro level median rent is based on an aggregation of rent prices at each property within that given Census-defined CBSA.
- City median rent is based on an aggregation of rent prices at each property within a city’s defined boundaries.
- Neighborhood median rent is based on an aggregation of rent prices at each property within a neighborhood’s defined boundaries.
The rent information included in this methodology is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
If you have any questions regarding our data, please contact us at press@redfin.com.
