Short answer: The US median 3-bedroom gross rent is $1,677 a month and the median home value $360,600 (Census ACS 2024). With 20% down at 7.32% (Freddie Mac, October 22, 2026), that median home would lose about $974 a month as a rental, and only 3 of 98 big US rental markets cash-flow at the median price. Rental vacancy is about 5.7%, and average routine maintenance is $1,356 a year (Census AHS 2023).
Definition
Median gross rent is the middle monthly rent paid by renter households, counting contract rent plus the utilities and fuels the tenant pays: half of renters pay more and half pay less. It is the Census Bureau's standard measure of what renting costs.
By the numbers: Census ACS 2024: the US median gross rent is $1,487/mo, $1,677/mo for a 3-bedroom, and the median renter household spends 30.9% of its income on it. At 7.32% with 20% down (Freddie Mac, October 22, 2026) the US median home renting at that 3-bedroom median loses about $974/mo.
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Starts at the US median home ($360,600) and 3-bed rent ($1,677/mo), Census ACS 2024, at Freddie Mac's 7.32% rate. Assumes tax at 0.89% of price (US median), $1,200/yr insurance, 3% closing costs, 5% vacancy, 5% maintenance and 8% management. Adjust all of these in the full calculator.
The numbers that matter most
At today's rates, the typical American house doesn't pay for itself as a rental. The US median home ($360,600) renting for the median 3-bedroom rent ($1,677) with 20% down at 7.32% loses about $974 a month after every cost, and only 3 of 98 big US rental markets cash-flow at the median price. That's why deals have to be found below the median, not bought at it.
Tip: Every figure below is recomputed from the source data when this page is built, so it matches FirstDoor's guides and market pages. Each row has its own link (for example #stat-1) if you want to cite one. Download all 40 as a CSV.
Renters, rents and home prices
National medians from the Census Bureau's American Community Survey (2024 1-year estimates, the latest available).
| Statistic | Source |
|---|---|
| 46.1 million US households rent their home, 34.7% of all occupied homes. Read more: Best cities › | Census ACS 2024, B25003 |
| The US median gross rent (rent plus tenant-paid utilities) is $1,487/mo; for a 3-bedroom it is $1,677/mo and for a 2-bedroom $1,490/mo. Read more: How to estimate rent › | Census ACS 2024, B25064 and B25031 |
| The median renter household spends 30.9% of its income on gross rent. | Census ACS 2024, B25071 |
| The US median owner-occupied home value is $360,600. Read more: How much to pay › | Census ACS 2024, B25077 |
| From 2023 to 2024, the median 3-bedroom rent rose 6.7% ($1,572 to $1,677) and the median home value 6.0% ($340,200 to $360,600). Read more: Rent growth vs home prices › | Census ACS 2023 and 2024 |
| Since 2021, the median 3-bedroom rent is up 26.2% ($1,329 to $1,677) and the median home value 28.1% ($281,400 to $360,600). Read more: Rent growth vs home prices › | Census ACS 2021 and 2024 |
| A year of median 3-bedroom rent buys only part of the median home: the gross rent multiplier is 17.9 and the rent-to-price ratio 0.47%, under half the 1% rule. Read more: Gross rent multiplier › | Census ACS 2024 |
| Only 2 of 98 big US rental markets (Detroit, MI and Cleveland, OH) pass the 1% rule at the median home value and median 3-bedroom rent. Read more: Is the 1% rule realistic? › | Census ACS 2024 |
Cash flow and returns at today's rates
FirstDoor's calculation on Census medians: the median-priced home renting for the median 3-bedroom gross rent, 7.32% with 20% down (Freddie Mac, October 22, 2026), the median property tax, $1,200 a year insurance (assumed), 5% vacancy, 5% maintenance, 8% management, 3% closing costs.
| Statistic | Source |
|---|---|
| The US median home would lose $974/mo as a rental, a cap rate of 3.35% and a cash-on-cash return of −14.1%. Read more: Good cash flow › | FirstDoor on Census ACS 2024 + Freddie Mac PMMS |
| Only 3 of 98 big US rental markets cash-flow on a median-priced home: Detroit, MI, Cleveland, OH and Toledo, OH. The median city loses $972/mo. Read more: Good cash flow › | FirstDoor on Census ACS 2024 + Freddie Mac PMMS |
| Buying the US median home takes about $82,938 in cash at 20% down plus 3% closing costs; across the 98 cities the median is $93,116. Read more: Cash needed › | FirstDoor on Census ACS 2024 |
| To break even, the US median home would need about $2,865/mo in rent (1.7 times the median 3-bedroom rent), or a price of about $204,000. Read more: Break-even rent › | FirstDoor on Census ACS 2024 + Freddie Mac PMMS |
| Detroit, MI has the highest median cap rate of the 50 biggest rental markets (10.15%); Oakland, CA the lowest (1.63%). Read more: Best cities › | FirstDoor on Census ACS 2024 |
| By state, West Virginia has the highest median cap rate (4.68%) and New Jersey the lowest (2.15%). No state cash-flows at the median price. Read more: Best states › | FirstDoor on Census ACS 2024 |
| The US median home needs about 2.48% a year of price growth to break even on its first-year total return (cash flow + loan paydown + appreciation); the median city needs 2.16%. Read more: Negative cash flow rentals › | FirstDoor on Census ACS 2024 + FHFA HPI |
Mortgage rates and financing
Freddie Mac's weekly survey, Fannie Mae's published pricing and underwriting rules, and FHFA's mortgage database.
| Statistic | Source |
|---|---|
| The average 30-year fixed mortgage rate was 7.32% on October 22, 2026. The record low was 2.65% (January 7, 2021); the 2021 average was 2.96% and the 2025 average 6.60%. Read more: Rate for cash flow › | Freddie Mac PMMS |
| Each percentage point of rate changes the US median home's cash flow by about $192/mo. It breaks even only at about 1.59%, below the record low. Read more: Rate for cash flow › | FirstDoor on Census ACS 2024 + Freddie Mac PMMS |
| At today's rate, 3 of 98 big cities break even on a median home; 39 would at the record low, and in 22 a median home would lose money even at 0%. Read more: Rate for cash flow › | FirstDoor on Census ACS 2024 + Freddie Mac PMMS |
| Fannie Mae adds a loan-level price adjustment of 3.375% of the loan for an investment property with 20% down (2.125% with 25% down). On the US median home that is $9,736, roughly 8.16% instead of 7.32% (an estimate at 0.25 point of rate per point). Read more: Investment property rates › | Fannie Mae LLPA Matrix (September 30, 2026) |
| Fannie Mae allows at most 85% loan-to-value on a one-unit investment purchase (15% down) and 75% on 2–4 units; a 2–4 unit home you live in can go to 95%. Read more: House hacking › | Fannie Mae Eligibility Matrix |
| On a purchase, Fannie Mae counts 75% of gross rent minus the full payment (PITIA). For the US median home that is −$1,091/mo, added to the buyer's debts; only 1 of 98 cities (Detroit, MI) comes out positive. Read more: How lenders count rental income › | Fannie Mae Selling Guide B3-3.8-02 |
| 49.1% of outstanding US mortgages had a rate under 4% in Q2 2026 (average 4.4%), which keeps many owners from selling and nudges some to rent out their old home. Read more: Rent out or sell › | FHFA National Mortgage Database (Q2 2026) |
Operating costs: vacancy, repairs, insurance, management, taxes
The costs that come out of rent before the mortgage.
| Statistic | Source |
|---|---|
| The US rental vacancy rate is about 5.7% (ACS 2024); the Census quarterly survey put it at 7.3% in Q2 2026. Among the 50 biggest rental markets it runs from 3.0% (San Jose, CA and Colorado Springs, CO) to 12.6% (Atlanta, GA). Read more: Vacancy rate › | Census ACS 2024 B25004; Census HVS Q2 2026 |
| US homeowners spent a median $500 and an average $1,356 a year on routine maintenance; 16% of those who answered spent nothing and 14% spent $2,400 or more. Read more: Maintenance and capex › | Census AHS 2023, Table C-15-OO |
| Rental owners spent a median $840 per unit a year on capital improvements, and 76% made one in 2020. The median rent receipt was $1,000/unit/mo and median operating expense $380. Read more: The 50% rule › | HUD & Census, Rental Housing Finance Survey 2021 |
| Average maintenance plus median capex is about $2,196/yr, 10.9% of the US median 3-bedroom rent, more than double a 5% budget. Read more: Maintenance and capex › | FirstDoor on Census AHS 2023 + RHFS 2021 |
| The median US home was built in 1981, and 48% of homes were built before 1980. Homes built before 1940 averaged $1,616 a year in routine maintenance, those built since 2020 $381. Read more: Maintenance and capex › | Census ACS 2024 B25035/B25034; FirstDoor tabulation of AHS 2023 |
| The 2023 countrywide average HO-3 homeowners premium was $1,737/yr (owner-occupied, not a landlord policy). Multifamily insurance rose from about $39 to $68 per unit per month from 2019 to 2024 in real terms. Read more: Insurance cost › | NAIC 2023 Homeowners Report; Federal Reserve FEDS Note (Sept 2025) |
| Advertised property management fees average 8.49% of collected rent across 80 metro areas. Read more: Management fees › | iPropertyManagement fee survey |
| Owner-occupied US homes paid a median $3,211 a year in property tax, about 0.89% of the median value. Read more: Property taxes › | Census ACS 2024 B25103/B25077 |
| In 13,471 apartment communities, operating costs, property taxes, payroll and reserves took about 45¢ of each rent dollar before the mortgage in 2025. Read more: The 50% rule › | National Apartment Association (2025 data) |
Home price growth
FHFA's all-transactions house price index for the US, quarterly since 1975.
| Statistic | Source |
|---|---|
| US home prices rose 3.03% over the last year and 3.36% a year over the last 20 years (to Q2 2026). Read more: Negative cash flow rentals › | FHFA HPI (FRED USSTHPI) |
| In 31 of 186 rolling 5-year periods since 1975, prices grew less than the 2.48% a year the median home needs; in 18 they fell. From the Q1 2007 peak to the Q2 2012 low, prices dropped 19%. Read more: Negative cash flow rentals › | FHFA HPI (FRED USSTHPI) |
Section 8 and HUD fair market rents
HUD's FY2027 fair market rents, effective October 1, 2026.
| Statistic | Source |
|---|---|
| HUD's FY2027 3-bedroom fair market rent is above the city's median 3-bedroom rent in 96 of 98 big cities, by a median 21.0%. Read more: Section 8 vs market rent › | HUD FY2027 FMRs; Census ACS 2024 |
| Even at the full FMR, only 9 of 98 cities cash-flow on a median-priced home at 7.32%; the median city loses $659/mo. Read more: Section 8 vs market rent › | FirstDoor on HUD FY2027 FMRs + Census ACS 2024 |
| Housing authorities set voucher payment standards at generally 90% to 110% of the FMR, and when a unit rents above the payment standard, the tenant's share can't be more than 40% of adjusted monthly income at move-in. Read more: Section 8 vs market rent › | 24 CFR 982.503 and 982.508 |
| HUD publishes Small Area FMRs for 38,601 ZIP codes in FY2027. Read more: Rent by ZIP code › | HUD FY2027 Small Area FMRs |
Taxes
IRS rules that change a rental's after-tax return.
| Statistic | Source |
|---|---|
| Residential rental buildings (not land) are depreciated over 27.5 years, about 3.636% of the building's basis per full year. Read more: Depreciation › | IRS Publication 527 |
| Active landlords can deduct up to $25,000 of rental losses against other income, phased out between $100,000 and $150,000 of modified AGI. Read more: Depreciation › | IRS Publication 527 |
| Selling a former main home lets you exclude up to $250,000 of gain ($500,000 married filing jointly) if you lived there 2 of the last 5 years; depreciation taken after May 6, 1997 is still taxed. Read more: Rent out or sell › | IRS Publication 523 |
How to use and cite these numbers
These are national and citywide medians, not a forecast and not any single property. The median home and the median rental are different houses, survey figures carry margins of error, and FirstDoor's cash flow math uses stated assumptions (7.32% with 20% down (Freddie Mac, October 22, 2026); 5% vacancy, 5% maintenance, 8% management; $1,200 a year insurance). The formulas are on the methodology page.
To cite: FirstDoor, "Rental property statistics for 2026," usefirstdoor.com/guides/rental-property-statistics, updated October 26, 2026, and name the original source in the right-hand column. Then run your own deal: the calculator starts at these same US medians.
Worked example
The US median home ($360,600, Census ACS 2024) renting for the US median 3-bedroom gross rent ($1,677/mo). 20% down at 7.32% for 30 years (Freddie Mac average, October 22, 2026), the US median property tax ($3,211/yr), $1,200/yr insurance (assumed), 5% vacancy, 5% maintenance, 8% management, closing costs assumed at 3% ($10,818).
| Rent / mo | $1,677 |
| Operating costs (/mo) | −$669 |
| Mortgage (P&I) | −$1,982 |
| Cash flow / mo | −$974 |
| Rent needed to break even | $2,865 |
Frequently asked questions
What are the key rental property statistics for 2026?
The US median 3-bedroom gross rent is $1,677 a month and the median home value $360,600 (Census ACS 2024). With 20% down at 7.32% (Freddie Mac, October 22, 2026), that median home would lose about $974 a month as a rental, and only 3 of 98 big US rental markets cash-flow at the median price. Rental vacancy is about 5.7%, and average routine maintenance is $1,356 a year (Census AHS 2023).
Does a typical rental property cash flow in 2026?
Not at the median price. In FirstDoor's calculation on Census ACS 2024 medians at 7.32% with 20% down, the median-priced home cash-flows in only 3 of 98 big US rental markets (Detroit, MI, Cleveland, OH and Toledo, OH); the median city loses about $972 a month.
What is the average rental vacancy rate?
About 5.7% in the Census Bureau's American Community Survey for 2024, and 7.3% in its quarterly Housing Vacancy Survey for Q2 2026. Among the 50 biggest rental markets it ranges from 3.0% to 12.6%.
How much do landlords spend on maintenance?
Census AHS 2023 puts US homeowners' routine maintenance at a median $500 and an average $1,356 a year, and the 2021 Rental Housing Finance Survey found a median $840 per rental unit a year in capital improvements. Together that is about 10.9% of the US median 3-bedroom rent.
How much have rents gone up since 2021?
The US median 3-bedroom gross rent rose 26.2% from 2021 to 2024 ($1,329 to $1,677), while the median home value rose 28.1% (Census ACS).
Can I use these statistics in an article or report?
Yes. Cite FirstDoor with a link to this page and name the original source shown next to each figure. Every row has its own anchor link, and all of them are in a free CSV download.
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Sources
Educational content, not financial advice. Loan programs and requirements change; confirm with a lender.