Zillow: single-family rental demand up 24.3% as buying a house requires $14,408 more income than renting

Demand for single-family rentals on Zillow rose 24.3% year over year, roughly double the 12.1% increase for multifamily, as overall rental demand climbed 22.1%, Zillow reported Nov. 12. October asking rents were $2,243 a month for single-family homes, up 3.2%, and $1,744 for multifamily units, up 2.5%. Zillow estimates a household that can afford to rent a house would need $14,408 more in annual income to buy one, the widest gap since early 2025, and the largest demand gains were in San Jose, San Francisco and Austin.