US advertised asking rents rose $5 to $1,750 in Late-Q1, a 0.3% MoM gain and 0.1% yearly improvement across 140 markets.
Single-family build-to-rent advertised rates also rose $5 to $2,202 in Late-Q1, but still sat 0.5% below year-ago levels nationally.
Yearly rent gains were strongest in gateway and Midwest markets, led by NY, SF, Chicago, the Twin Cities and Kansas City.
Supply-heavy metros posted yearly declines, including Austin, Denver and Tampa. National occupancy was 94.3% in Mid-Q1, down 40 basis points yearly.
Late-Q1 shifted short-term momentum: nearly all top 30 markets posted rent gains. Only Seattle, Raleigh and New Jersey recorded slight MoM declines.
Despite supply pressure, several Sun Belt markets gained MoM in Late-Q1, including Austin and Charlotte, while NY, Indianapolis, SF and Philadelphia also advanced.
The survey said policy limits forcing build-to-rent home sales after 7 yr could deter projects and cut housing supply by ~72K units yearly.