Realtor.com® December Rent Report: Relief Skips Many Lower-Cost Renters
Rhea-AI Summary
Realtor.com (NYSE:NWS) reports asking rents across the 50 largest U.S. metros fell 0.7% year‑over‑year in December 2025 to a median of $1,689, the 29th consecutive annual decline. However, rent relief is concentrated at the high end: since Dec 2019 the median asking rent rose 16.9%, the 25th percentile rose 19.9% and the 75th percentile rose 12.5%, indicating affordability pressures for lower‑cost rentals. From Dec 2022–Dec 2025 the median eased 2.3% while the 25th percentile only fell 0.8%, showing shallower relief for cheaper units.
Positive
- Median asking rent +16.9% (Dec 2019 → Dec 2025)
- 75th percentile rise 12.5% (Dec 2019 → Dec 2025) — shows long‑term upside at high end
Negative
- 25th percentile +19.9% (Dec 2019 → Dec 2025) — larger increases at the low end squeeze affordability
- December 2025 median decline only -0.7% YoY, the smallest annual drop since March
News Market Reaction
On the day this news was published, NWSA declined 0.34%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
NWS gained 0.26% with mixed peer moves: NWSA (+0.90%), TKO (+0.59%), while WMG (-0.73%), ROKU (-1.69%), and FOXA (-0.25%) declined. No broad, unified sector move is indicated.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 08 | Housing inventory data | Neutral | +0.4% | Monthly U.S. housing inventory and pricing trends from Realtor.com. |
| Jan 07 | Data partnership | Positive | +0.2% | Exclusive Polymarket prediction data partnership across Dow Jones platforms. |
| Jan 07 | Market rankings | Positive | +0.2% | Best markets list targeting first-time homebuyers with affordability focus. |
| Dec 29 | Affordability trends | Negative | -0.2% | Report on long timelines to save down payments and elevated savings burden. |
| Dec 23 | SXSW event launch | Positive | +0.4% | Announcement of PropTech Startup Showdown event at SXSW 2026. |
Recent Realtor.com data releases and partnerships have generally coincided with modestly positive price reactions, with only one divergence on a housing affordability report.
Over the past month, NWS has issued several data- and product-focused announcements via Realtor.com and Dow Jones. A housing inventory report on Jan 8, 2026 and first-time buyer market rankings on Jan 7, 2026 both saw small positive moves. An exclusive prediction-market data partnership with Polymarket, also on Jan 7, 2026, drew a similar reaction. Earlier, affordability and down payment trend reports and the SXSW PropTech Startup Showdown announcement in late December 2025 likewise produced modest, generally positive stock responses.
Market Pulse Summary
This announcement highlights ongoing rent softness at the median level, with the national median asking rent at $1,689, down 0.7% year over year, but also underscores persistent affordability pressure on lower-cost renters given a 19.9% rise at the 25th percentile since 2019. For NWS, it adds another Realtor.com data point to a steady stream of housing and affordability reports. Investors may watch how such trends intersect with housing activity, listing volumes, and advertiser demand across NWS’s real estate and news platforms.
Key Terms
25th percentile technical
75th percentile technical
AI-generated analysis. Not financial advice.
Lower-priced rentals have posted stronger price growth since 2019, underscoring a widening affordability squeeze at the bottom of the market
While the national median rent has softened, the report finds that lower-priced rentals have seen the most rent growth since before the pandemic. From December 2019 to December 2025, the median asking rent rose
"National rent declines have been remarkably persistent, but the distribution of that relief matters," said Danielle Hale, chief economist at Realtor.com®. "Many renters shopping for more affordable homes may not feel much change because lower-priced rents have risen more since 2019 while the biggest markdowns have shown up at the high end."
Rent declines are flattening as 2025 ends
The
Across unit sizes, studio, one-bedroom, and two-bedroom asking rents all declined again year over year, though studios are closer to flat than one- and two-bedroom units.
Rent relief is concentrated at the top of the market
To better understand what renters are experiencing beyond the median, Realtor.com® examined the 25th and 75th percentiles of asking rent since 2019. The findings show a clear split:
- Median asking rent: +
16.9% (Dec 2019 → Dec 2025) - 25th percentile asking rent: +
19.9% - 75th percentile asking rent: +
12.5%
This is due to both a faster run-up through 2022 for lower-priced rentals and now, shallower relief. The softness at the top end of the market has been a key driver of the declining median since 2023, while the lower-cost segment has seen relatively little of that recent relief.
Larger Gains (Dec 2019 → Dec 2022)
- Median asking rent: +
19.6% - 25th percentile asking rent: +
21.0% - 75th percentile asking rent: +
16.5%
Shallower Relief (Dec 2022→ Dec 2025)
- Median asking rent: -
2.3% - 25th percentile asking rent: -
0.8% - 75th percentile asking rent: -
3.5%
"This pattern also helps explain why many higher-income renters continue to lease," said Joel Berner, senior economist at Realtor.com®. "With more concessions and slower price growth at the high end, there's less urgency to buy and fix the bulk of monthly housing costs, while competition remains tight for renters seeking the most affordable options."
Where lower-cost rents have risen fastest relative to the median
Rent compression is not uniform across the country. The metros below saw the largest increase in the 25th percentile rent as a share of the median since 2019, an indicator that the bottom of the rent distribution has moved up the most relative to typical rents in those markets, making these markets the most difficult to afford for low-income renters.
Metros with the Most Rent Compression Below the Median Since 2019
Metro | Dec 2019 - 25th Percentile Rent as Percentage of Median | Dec 2025 - 25th Percentile Rent as Percentage of Median | Difference |
79.2 % | 86.1 % | 7.0pp | |
79.3 % | 86.1 % | 6.8pp | |
79.8 % | 85.9 % | 6.1pp | |
75.2 % | 80.5 % | 5.3pp | |
78.6 % | 83.8 % | 5.2pp |
By contrast, the following metros saw the largest decrease in the 25th percentile rent as a share of the median since 2019, suggesting it has become relatively easier (compared with the local median) to find lower-cost rentals than it was pre-pandemic.
Metros with the Least Rent Compression Below the Median Since 2019
Metro | Dec 2019 - 25th Percentile Rent as Percentage of Median | Dec 2025 - 25th Percentile Rent as Percentage of Median | Difference |
79.9 % | 74.5 % | -5.4pp | |
78.3 % | 75.3 % | -2.9pp | |
83.3 % | 80.6 % | -2.7pp | |
80.9 % | 78.6 % | -2.2pp | |
78.7 % | 77.3 % | -1.5pp |
Appendix
Metro | Median Asking Rent (0-2 Bedrooms - Dec 2025) | YoY Rent Change | Dec 2019 - 25th Percentile Rent as Percentage of Median | Dec 2025 - 25th Percentile Rent as Percentage of Median | Difference |
-2.6 % | 79.8 % | 85.9 % | 6.1pp | ||
-5.3 % | 82.6 % | 82.5 % | -0.1pp | ||
1.8 % | 78.6 % | 83.8 % | 5.2pp | ||
-2.3 % | 83.3 % | 80.6 % | -2.7pp | ||
-3.4 % | 79.2 % | 86.1 % | 7.0pp | ||
NA | NA | NA | NA | NA | |
-2.0 % | 82.7 % | 86.3 % | 3.6pp | ||
0.0 % | 75.2 % | 80.5 % | 5.3pp | ||
-1.5 % | 78.7 % | 77.3 % | -1.5pp | ||
3.6 % | 79.9 % | 74.5 % | -5.4pp | ||
0.1 % | 81.0 % | 85.3 % | 4.3pp | ||
-1.5 % | 80.4 % | 84.1 % | 3.8pp | ||
-3.6 % | 84.7 % | 83.8 % | -0.9pp | ||
-0.9 % | 80.9 % | 78.6 % | -2.2pp | ||
5.7 % | 81.5 % | 83.9 % | 2.5pp | ||
-2.4 % | 78.4 % | 82.1 % | 3.7pp | ||
1.0 % | 80.8 % | 83.3 % | 2.6pp | ||
-2.9 % | 80.1 % | 85.1 % | 5.0pp | ||
3.4 % | 79.9 % | 82.1 % | 2.2pp | ||
-2.1 % | 81.4 % | 86.4 % | 4.9pp | ||
-1.0 % | 80.3 % | 81.8 % | 1.5pp | ||
-0.9 % | 83.4 % | 82.5 % | -0.9pp | ||
-1.9 % | 78.0 % | 78.0 % | 0.0pp | ||
-3.4 % | 81.3 % | 84.2 % | 3.0pp | ||
5.3 % | 74.5 % | 76.7 % | 2.2pp | ||
0.4 % | 80.6 % | 84.1 % | 3.4pp | ||
-3.6 % | 79.3 % | 86.1 % | 6.8pp | ||
NA | NA | NA | NA | NA | |
-0.1 % | 78.3 % | 75.3 % | -2.9pp | ||
-1.0 % | 83.3 % | 82.3 % | -1.0pp | ||
-1.7 % | 85.7 % | 88.0 % | 2.3pp | ||
-1.7 % | 78.6 % | 81.5 % | 2.9pp | ||
-2.7 % | 81.7 % | 85.4 % | 3.7pp | ||
4.5 % | 73.7 % | 75.8 % | 2.1pp | ||
-2.5 % | 87.9 % | 88.5 % | 0.5pp | ||
NA | NA | NA | NA | NA | |
-0.3 % | 86.0 % | 86.7 % | 0.7pp | ||
1.2 % | 85.5 % | 86.4 % | 0.9pp | ||
-3.1 % | 82.6 % | 85.3 % | 2.7pp | ||
NA | NA | NA | NA | NA | |
-1.3 % | 86.2 % | 86.9 % | 0.6pp | ||
-2.6 % | 84.2 % | 82.9 % | -1.2pp | ||
-2.8 % | 83.9 % | 85.4 % | 1.5pp | ||
0.8 % | 80.1 % | 82.1 % | 2.0pp | ||
1.9 % | 85.9 % | 86.1 % | 0.1pp | ||
-0.5 % | 81.9 % | 83.3 % | 1.3pp | ||
-0.8 % | 78.8 % | 80.8 % | 2.0pp | ||
-3.1 % | 82.1 % | 85.5 % | 3.4pp | ||
3.4 % | 83.9 % | 86.0 % | 2.1pp | ||
-0.1 % | 82.8 % | 84.5 % | 1.7pp |
Methodology
Rental data as of November 2025 for studio, 1-bedroom, or 2-bedroom units advertised for rent on Realtor.com®. Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). We use rental sources that reliably report data each month within the 50 largest metropolitan areas. Realtor.com® began publishing regular monthly rental trends reports in October 2020 with data history stretching to March 2019.
About Realtor.com®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media contact: Emily Do, press@realtor.com
View original content:https://www.prnewswire.com/news-releases/realtorcom-december-rent-report-relief-skips-many-lower-cost-renters-302661624.html
SOURCE Realtor.com
FAQ
What was Realtor.com’s reported median asking rent in December 2025 for NYSE:NWS coverage?
How much did lower‑cost rents change from Dec 2019 to Dec 2025 in the Realtor.com report (NYSE:NWS)?
Does the December 2025 report say rent relief is uniform across markets (Realtor.com / NYSE:NWS)?
How did asking rents behave from Dec 2022 to Dec 2025 according to Realtor.com (NYSE:NWS)?
Which metros showed the largest increase in 25th percentile rent as a share of the median since 2019?
