Asking Rents for US Homes Increase in March to Exceed $2,000: Zillow

Landlords are cutting back on rental concessions, which are expected to drop further as competition for properties increases.

A home on the market in Denver, Colo., on Feb. 10, 2024. David Zalubowski/AP Photo

The typical asking rent in the United States hit $2,005 in March, up 0.6 percent from February and 3.5 percent compared to a year back, real estate marketplace Zillow said in an April 17 report.

The company cited the milder weather of the spring season and looming graduation as triggers of upward pressure on rents during this time of the year.