US Rental Affordability Rises in May
Analysis based on 6 articles · First reported Jun 18, 2026 · Last updated Jun 18, 2026
The increased rental affordability across the United States, as reported by Zillow, is a positive development for consumers, potentially freeing up disposable income. However, the slowing construction boom could lead to rent growth firming up again, impacting future affordability and potentially affecting real estate investment strategies.
A new Zillow analysis reveals that 74% of rental listings in the United States were affordable to a median-income household in May 2026, the highest share for this month since at least 2021. This improvement is largely attributed to a multifamily construction boom that peaked in 2024, increasing supply and cooling rent growth. The typical rent nationwide is up only 2% from a year ago. While most major metros saw affordability gains, some, like United States — Pittsburgh and United States — San Francisco, experienced declines. Kara Ng, a senior economist at Zillow, noted that more supply leads to increased competition among landlords, benefiting renters. The report also highlighted that nearly 40% of Zillow listings offered concessions in May.
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