【Zillow】Renters make affordability gains for the first time in four years (August 2025 Rental Market Report)

• Rent Growth Stalls: The typical U.S. rent held steady at $2,007 from July to August. Rents are up 2.4% from a year ago.
• Affordability Showing First Improvement Since 2021: Incomes rise as rent growth stalls. A renter looking to move into the typical rental would now spend 28.9% of their household income on rent, which is the first time renter affordability has fallen to this level since October 2021.
• Rental Concessions Set Another Record: 36.7% of rental listings on Zillow offered a concession in August, marking a new high.

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