July 2026 Rental Market Report

A look at rental prices, leasing speed, maintenance demand, and rent payment trends across the U.S.

July brought strong momentum to the rental market. Median asking rent reached $1,800, the highest level of 2026, while median days on market fell to 23 days, showing that rental homes are moving quickly during the peak summer leasing season.

Key Stats

At the same time, payment performance is becoming an area to watch. Rent delinquency reached 7.6% in July, continuing a steady increase since February. The result is a rental market with strong leasing demand and rising rents, but growing pressure on landlords to carefully manage tenant quality and collections.

The Market in July: Quick Read

July was the strongest leasing month of the year so far.

Median asking rent climbed to $1,800, matching the year's high, while median days on market dropped to 23 days, the fastest fill time of the trailing six months.

For landlords with available units, the summer market continues to provide favorable conditions for filling vacancies quickly. However, the rise in rent delinquency suggests that finding a tenant is only part of the equation. Tenant screening, payment policies, and collections remain important considerations as the market moves toward fall.

What Are Rental Homes Going For?

Median asking rent in July: $1,800/month.

Rents climbed back to $1,800, matching the year's high set earlier in the spring. Larger homes continue to command a significant premium, with the median rent increasing from $2,100 for a 3-bedroom to $2,923 for a 4-bedroom, a 39% difference.

Condos had the highest median rent among property types at $2,498, edging out townhouses at $2,250. Studios remained the most affordable option at a $1,050 median, down from $1,450 in April, suggesting some seasonal softness in smaller units.

By Bedroom Count

By Property Type

By State: Top 10 Markets by Volume

Ohio remains the most affordable top-10 market at a $1,200 median rent, while Colorado had the highest median at $2,673.

Illinois also moved into the higher end of the list with a $2,602 median, driven in part by higher-end listings concentrated in the Chicago metro area.

Most Expensive Cities

Most Affordable Cities

Security Deposits

The average security deposit in July was $2,036, with a median of $1,800. That puts the deposit-to-rent ratio at 1.03x.

The pattern remains consistent throughout 2026: landlords are generally asking for approximately one month's rent as a security deposit, with relatively little month-to-month variation.

Rental Homes Are Filling Faster

Median days on market fell to 23 days in July, the fastest fill time of the trailing six months.

That's a 34% improvement from February's 28-day median and another sign that peak summer leasing season is bringing strong tenant demand.

For landlords listing rental properties during the summer, the current market provides an opportunity to reduce vacancy periods and secure tenants more quickly. In many markets, well-positioned properties can expect to fill within three to four weeks.

Trailing 6 Months

By State

Minnesota, Colorado, and Pennsylvania were the fastest markets in July, with median days on market of 12, 18, and 20 days, respectively.

Texas remained one of the slower markets, with a 46-day median. North Carolina and Utah also recorded longer median fill times at 34 and 33 days.

The variation between markets reinforces an important point for landlords: national rental trends provide useful context, but local market conditions can have a significant impact on how quickly a property leases.

Maintenance Demand Shifts Into Summer Mode

Summer also brought a noticeable change in maintenance activity.

Heating and HVAC requests accounted for 14.6% of maintenance requests in July, the highest share of the year. As temperatures rise, cooling-related issues are becoming a larger part of the maintenance workload for property managers and landlords.

Top Maintenance Categories, July 2026

HVAC requests increased from 10.6% in February to 14.6% in July, reflecting the seasonal shift toward summer cooling demand.

Meanwhile, plumbing requests declined from the February peak of 31.2% to 21.7%. Pest control remained relatively stable at 6.6% after reaching 7.1% in May and June.

For property managers, the increase in HVAC demand is a reminder to make sure contractor relationships and maintenance response processes are ready for the hottest part of the summer.

Rent Payments Are Becoming a Bigger Risk

While leasing activity remains strong, one trend is moving in the opposite direction: rent delinquency.

The national rent delinquency rate reached 7.6% in July, the highest level recorded in 2026. The rate has increased every month since February, when it stood at 2.6%.

Trailing 6 Months

Highest Delinquency by State

Lowest Delinquency by State

Highest Delinquency by City

Lowest Delinquency by City

By Property Type

By Bedroom Count

What to watch: The rental market remains active, but the increase in rent delinquency is a trend worth monitoring as the market moves toward fall.

What July Means for Rental Owners

July's data paints a mixed but generally active picture for rental owners.

On the leasing side, conditions remain favorable. Rents reached their highest level of the year, median days on market fell to 23 days, and summer tenant demand continues to move inventory quickly.

For owners with vacant properties, that creates an opportunity to capture strong rental rates while demand remains elevated.

The bigger consideration is what happens after the lease is signed. Rent delinquency has increased from 2.6% in February to 7.6% in July, making tenant screening, payment tracking, and collections increasingly important.

The best strategy is not simply to fill a vacancy quickly. Owners should focus on finding qualified tenants who can support reliable, on-time payments throughout the lease.

The One Number to Remember

23 days.
That's the median time it took rental properties to lease in July, making it the fastest fill time of the trailing six months.

For rental owners, the summer market continues to offer strong leasing conditions. Rents are holding at the year's high, demand is moving properties quickly, and landlords with available inventory have an opportunity to minimize vacancy.

At the same time, the rise in rent delinquency is a trend worth monitoring as we move toward fall. Strong leasing demand is good for landlords, but maintaining healthy rental income ultimately depends on both filling properties and collecting rent consistently.

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