BLS New Tenant Rent Index

Data Prices Real Estate

Source: BLS
Source Link: https://www.bls.gov/
Frequency: Quarterly

Latest Updates

The BLS New Tenant Rent Index was up 1.2% YoY in Q3 2025, well above the -1.9% YoY decline recorded for Q2 2025 (revised up significantly from the 1st estimate of -9.3% YoY).
- The All Tenant Regressed Rent Index annual increase, which incorporates both new and continuing tenants, slowed from 3.3% YoY in Q2 2025 to 2.9% YoY in Q3 2025, the lowest since Q3 2021. The Q2 reading was revised higher from 2.8% YoY in the 1st estimate to 3.3% YoY.
bls-new-tenant-rent-index-q3-2025.pdf
The BLS New Tenant Rent Index was down -9.3% YoY in Q2 2025, down from the 1.0% YoY increase in Q1 2025 (revised up from -2.2% YoY).
- The All Tenant Regressed Rent Index, which incorporates both new and continuing tenants, was up 2.8% YoY in Q2 2025, a slight acceleration from 3.3% YoY in Q1 2025.
bls-new-tenant-rent-index-q2-2025-1.xlsx
The BLS New Tenant Rent Index was down -2.2% YoY in Q1 2025, down from the revised 1.0% YoY increase in Q4 2024.
- The first estimate of the annual change of the New Tenant Rent Index in Q4 2024 was revised up from -2.4% YoY to the most recent estimate of 1.0% YoY.
- The All Tenant Regressed Rent Index, which incorporates both new and continuing tenants, was up 3.3% YoY in Q1 2025, a slight acceleration from 3.2% YoY in Q4 2024.
bls-new-tenant-rent-index-q1-2025-1.xlsx
The BLS's alternate rent index, the New Tenant Rent Index, was reported to have fallen -2.4% YoY in Q4 2024, a sharp turn from the 1.6% YoY increase in Q3 2024. This index has tended to lead the traditional rent measure used in the CPI reports.