August 2026 Rental Market Report

The rental market remained relatively steady in August, with the median asking rent holding at $1,800 for the fourth consecutive month. Rental listings also continued to move at a relatively consistent pace, with properties spending a median of 24 days on the market.

While headline rental prices and leasing activity remained stable, August data also showed a continued increase in rent payment issues. The national rent delinquency rate reached 6.9%, up from 5.1% in July and the highest monthly rate recorded in 2026.

Together, the data points to a market where rents and leasing activity remain stable, while payment performance is an area landlords and property managers may want to monitor closely.

The Market in August: Quick Read

August marked another month of relatively stable rental conditions.

• Median asking rent: $1,800
• Median days on market: 24 days
• Average security deposit: $1,946
• Median security deposit: $1,750
• Deposit-to-rent ratio: 0.96x
• Rent delinquency rate: 6.9%

Summer leasing activity continued to support relatively quick fill times, although conditions varied considerably by market.

What Rentals Are Going For

The median asking rent was $1,800 in August, remaining in the $1,800 range for the fourth consecutive month.

Rent levels varied substantially by bedroom count and property type. The largest increase occurred between three- and four-bedroom properties, where the median rent increased from $2,200 to $2,800, a 27% difference.

Townhouses and condos had the same median rent at $2,400, while houses had a $2,200 median. Studios had the lowest median at $1,199.

For 5+ bedroom properties, the average rent of $3,160 was notably higher than the $2,848 median, suggesting that higher-priced listings had an outsized effect on the average.

By Bedroom Count

By Property Type

By State: Top 10 Markets by Volume

Among the top 10 markets by listing volume, Illinois had the highest median rent at $2,998, while Ohio had the lowest at $1,200.

New York was one of the markets where the median rent exceeded the average, with a $2,125 median compared with a $1,991 average.

Top 5 Cities by Listing Volume

Most Expensive Cities

Most Affordable Cities

Security Deposits Remain Below One Month's Rent

The average security deposit in August was $1,946, with a median of $1,750.

The average deposit-to-rent ratio was 0.96x, meaning the average security deposit was slightly below one month's median rent. Deposit requirements continued to vary by market and property.

Days on Market: Summer Leasing Remains Active

Rental properties spent a median of 24 days on the market in August, unchanged from July.

The median remained below the levels recorded earlier in the year, indicating that properties continued to move relatively quickly during the summer leasing season.

Trailing 6 Months

By State

Utah had the shortest median time on market at 17 days, followed by California at 18 days and Georgia at 19 days.

Texas recorded the longest median at 48 days, while Florida had a 38-day median. Florida's 68-day average was substantially higher than its median, indicating that some longer-running listings increased the overall average.

For landlords preparing to list a property, these differences highlight how much leasing speed can vary across markets.

Maintenance: Plumbing Leads as Seasonal Demand Shifts

Maintenance activity also showed a seasonal shift in August.

The three largest categories were Other (37.9%), Plumbing (22.0%), and Appliance Repair (10.1%).

Top Maintenance Categories, August 2026

Heating/HVAC requests fell from 14.9% in July to 8.7% in August, a 42% month-over-month decline in share.

Pest control remained at 7.0%, while plumbing continued to represent the largest defined maintenance category at 22.0%.

Turnover and cleaning requests increased slightly to 3.2%, consistent with continued summer leasing and tenant turnover activity.

As the market transitions toward fall, property managers may want to shift attention from peak cooling demand toward seasonal heating and preventative maintenance.

Rent Payment Trends: Payment Issues Continue to Rise

The national rent delinquency rate reached 6.9% in August, up from 5.1% in July.

The rate has increased each month since March, when it stood at 2.6%.

Trailing 6 Months

The increase is notable because it has occurred alongside relatively stable rents and leasing activity. However, delinquency rates can vary significantly by market, property type, and tenant mix, so the national figure does not necessarily reflect conditions in every local market.

Highest Rent Payment Issue Rates by State

Lowest Rent Payment Issue Rates by State

Highest Rent Payment Issue Rates by City

Lowest Rent Payment Issue Rates by City

By Property Type

By Bedroom Count

The August data shows meaningful variation across markets. Tennessee and Pennsylvania recorded the highest state-level rates at 14.8%, while New Hampshire recorded the lowest at 0.8%.

At the city level, Memphis recorded 27.1%, while Parker, Colorado recorded 0.8% among cities included in the comparison.

By property type, duplexes had the highest rate at 6.2%, while condos had the lowest at 4.2%. Studios had the highest rate by bedroom count at 7.4%.

These figures describe the distribution within Hemlane's rental data and should not be interpreted as representative of every rental property or renter in each market.

What the August Data Means for Landlords and Property Managers

August's data shows several trends worth watching as the summer leasing season comes to a close.

Rents remain stable. The $1,800 median asking rent has held steady for four consecutive months, providing a relatively consistent pricing environment.

Leasing activity remains relatively strong. Properties spent a median of 24 days on the market, with Utah, California, and Georgia recording the shortest median fill times among the states included.

Local market conditions vary considerably. Rent levels and days on market differed significantly across states and cities, reinforcing the importance of looking beyond national averages when pricing and marketing a rental.

Payment performance is worth monitoring. The national rent delinquency rate increased to 6.9% in August. The continued upward movement makes rent collection and payment trends an important metric to watch heading into the fall.

Maintenance needs are changing with the season. HVAC's share of maintenance requests declined significantly in August, while plumbing and other maintenance categories continued to account for a substantial portion of activity.

The August Takeaway

Stable rents, steady leasing activity, and changing payment trends defined the August rental market.

The $1,800 median rent remained unchanged, while the median time on market held at 24 days. At the same time, the national rent delinquency rate increased to 6.9%, making payment performance an increasingly important trend to monitor.

For landlords and property managers, the August data reinforces the value of tracking local rents, days on market, maintenance activity, and payment performance together rather than relying on any single market indicator.

As the market moves into fall, these metrics will help show whether the stability seen throughout the summer continues into the next leasing cycle.

Data from Hemlane platform activity, August 2026. Hemlane provides property management software for independent landlords and property managers across the U.S. This report is published monthly.