As difficult as it is to buy a house, with high interest rates and high home prices, it’s equally difficult to rent an apartment in many U.S. cities.
The competitive housing market, overall, has encouraged more renters to stay where they are. Nearly 64% of renters renewed their leases at the beginning of 2025, while the number of available apartments through new building projects only increased marginally, from 0.61% to 0.72%, according to a report from RentCafe.
