【Zillow】Incomes Rise Faster Than Rents in 37 US Metros (October 2025 Rent Report)

• The 12 metros where rents continue to outpace incomes include large markets like New York, San Francisco and Chicago, as well as affordable midwest markets like St. Louis, Milwaukee and Cleveland.
• Nearly 2 in 5 rentals on Zillow offered a concession in October to remain competitive and attract new tenants. Rental concessions have become the norm in 14 metros across the country.
• A new renter household earning the median household income would need to spend 27.2% of their income to afford the typical rent – up from 26.3% before the pandemic.

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