January 2026 Rental Market Report

If you listed a rental this January, you waited. Rentals that filled in January took a median of 33 days, 50% longer than the summer peak of 22 days. That's roughly two extra weeks of vacancy, two extra weeks of carrying costs, and two extra weeks of uncertainty.

That's the winter vacancy tax. And it's been getting worse every month since August.

The Market Woke Up in January… But Slowly

After the holiday freeze, landlords rushed to list. New listing activity jumped 33% from December, making January the most active month in six months. Lease signings followed. So did the tenant's demand.

The rebound is real. The catch: more competition for renters who aren't in a hurry.

What Rentals Are Going For

Median asking rent in January: $1,650/month.

A few numbers worth knowing:

• Studios: $1,175 median; the entry point for most urban markets
• 3-bedrooms: $1,800 median ; the most commonly listed unit type (35% of all listings)
• 4-bedrooms: $2,495 median; a 39% jump from 3BR, the steepest size-to-price leap in the market
• Condos: $3,095 median;  82% more expensive than single-family houses ($1,700)

That condo premium is worth pausing on. Condos make up a small slice of the market, but renters choosing between a condo and a house are effectively paying for a different product, and the data shows landlords know it.

Where You'll Fill Fastest (and Slowest)

Not all winter markets are created equal.

Minnesota was January's surprise leader with a median fill time of just 15 days, despite sub-zero temperatures. North Carolina (20 days) and Washington (24 days) also outperformed.

On the other end: Hawaii (52 days median) and Arizona (43 days) saw the slowest fills. Hawaii's data is particularly telling with the average and median are nearly identical (53 vs. 52 days), meaning slow demand there is consistent, not driven by a few hard-to-rent outliers.

For affordability context: Ohio's median rent is $900 which is 64% below California's $2,500, with strong listing volume to match. It remains one of the most accessible major rental markets in the country.

Maintenance: Frozen Pipe Season Is Expensive

January maintenance requests hit a six-month high, and the culprit is predictable.

Plumbing was the top category at 27.5% of all requests, reaching its highest point of the trailing six months. Heating wasn't far behind at 13.1%, up 86% since September. Together, they made up 40% of all maintenance volume.

Pest control, meanwhile, dropped nearly 50% from summer, its expected seasonal retreat.

The practical implication for property managers: proactive communication about pipe insulation and thermostat settings before a cold snap isn't just good service. It's cheaper than an emergency plumber.

The One Number to Remember

33 days. That's how long January rentals took to fill at the median. If you're listing this winter, that's your baseline and plan for it, price for it, and don't panic when week two passes without a signed lease.

Data from Hemlane platform activity, January 2026. Hemlane provides property management software for independent landlords and professional property managers across the U.S. This report will be updated monthly.