Home prices up twice as much as rents since 2020: Report

Since March 2020, the national median rent has increased by 22%: Report
Over the same period, home prices are up by 43%
"This gap continues to widen": Economist

Liz Jassin

Updated: Sep 15, 2023 / 08:49 PM CDT

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(NewsNation) — While rents nationwide continue to dip, home prices have rebounded to an all-time high, according to a new Apartment List report.

Since March 2020, the start of the COVID-19 pandemic, the national median rent has increased by 22%; meanwhile, home prices are up nearly twice as much by 43%.

“Throughout this year we’ve frequently reported on the slight dip in rent prices across the country, as rents remain substantially higher than they were at the start of the pandemic,” said Chris Salviati, a senior housing economist for Apartment List.

“But we’re also seeing that the rapid rent growth of recent years has been eclipsed by even faster growth in for-sale home prices. Even as both sides of the housing market have cooled significantly from their peaks, this gap continues to widen.”