Supply pressure

How housing supply and building permits change a rental-market thesis

Which supply signals help explain whether recent rent growth can persist?

Rental supply does not arrive in one statistic. A permit is an intention, a completed building is new competition, an active listing is current choice, and a price reduction is a seller response. Treating them as interchangeable creates false precision about where rent pressure is headed.

RentMarker combines permitting intensity with current housing and labor signals to create a supply-pressure view. The result is a screening map, not a construction forecast. It shows where recent rent direction meets a relatively high or low pipeline signal and where other market evidence should be opened next.

Supply is a sequence. Read permits, delivery, listings and absorption in the order they can affect the renter’s choices.
Current evidence

Permitting intensity beside rent direction

The quadrants preserve both signals and keep markets near the medians from being mistaken for extreme cases.

542 metros with the complete direct set

Permitted housing intensity and asking-rent growth

Bottom-right is the pressure-watch group: more permits per resident, slower current rent growth. Dot size follows population.

Metro permitted housing units per 1,000 residents compared with asking-rent growthScatter plot of complete metros. Median permitted units per 1,000 residents and median Zillow asking-rent growth divide the chart into four descriptive groups. The bottom-right group has higher permitted construction intensity and slower rent growth.0.04.38.613.017.321.6-9.3%1.2%11.8%22.3%32.8%43.4%median permits 3.04 / 1kmedian rent growth 3.3%Jefferson, GA: 20.77 permits per 1,000 residents, 2.8% rent growth, -2.6% jobsWilmington, NC: 18.93 permits per 1,000 residents, 2.9% rent growth, 2.6% jobsPunta Gorda, FL: 17.51 permits per 1,000 residents, 0.0% rent growth, -0.7% jobsDurham, NC: 17.48 permits per 1,000 residents, 0.3% rent growth, -0.7% jobsMyrtle Beach, SC: 17.42 permits per 1,000 residents, 1.4% rent growth, 1.6% jobsFayetteville, AR: 16.42 permits per 1,000 residents, 1.6% rent growth, 2.5% jobsOcala, FL: 16.25 permits per 1,000 residents, -0.2% rent growth, 1.6% jobsSt. George, UT: 15.39 permits per 1,000 residents, 3.3% rent growth, 2.1% jobsNorth Port, FL: 15.07 permits per 1,000 residents, -1.5% rent growth, 1.2% jobsRaleigh, NC: 14.23 permits per 1,000 residents, 0.3% rent growth, 2.1% jobsCape Coral, FL: 13.46 permits per 1,000 residents, -1.9% rent growth, -0.6% jobsCedar City, UT: 13.40 permits per 1,000 residents, 0.4% rent growth, 1.8% jobsCrestview, FL: 13.39 permits per 1,000 residents, 2.8% rent growth, 0.4% jobsAsheville, NC: 13.29 permits per 1,000 residents, 1.2% rent growth, 0.9% jobsBurlington, NC: 12.97 permits per 1,000 residents, 1.7% rent growth, -0.7% jobsSpartanburg, SC: 12.91 permits per 1,000 residents, 2.1% rent growth, 0.7% jobsHilton Head Island, SC: 11.69 permits per 1,000 residents, 0.6% rent growth, 1.7% jobsRexburg, ID: 11.49 permits per 1,000 residents, 0.9% rent growth, -0.6% jobsGainesville, GA: 11.39 permits per 1,000 residents, 0.8% rent growth, 0.3% jobsHomosassa Springs, FL: 11.23 permits per 1,000 residents, 1.7% rent growth, 0.6% jobsHickory, NC: 11.15 permits per 1,000 residents, 3.0% rent growth, -0.7% jobsIdaho Falls, ID: 11.13 permits per 1,000 residents, 0.9% rent growth, -0.1% jobsCoeur d'Alene, ID: 10.90 permits per 1,000 residents, 3.2% rent growth, 0.9% jobsGreeley, CO: 10.86 permits per 1,000 residents, 0.1% rent growth, 1.6% jobsBozeman, MT: 10.85 permits per 1,000 residents, 1.0% rent growth, -0.2% jobsPinehurst, NC: 10.81 permits per 1,000 residents, 0.8% rent growth, 1.8% jobsSavannah, GA: 10.79 permits per 1,000 residents, -1.3% rent growth, 0.8% jobsCollege Station, TX: 10.42 permits per 1,000 residents, 1.7% rent growth, 0.9% jobsWenatchee, WA: 10.36 permits per 1,000 residents, 2.2% rent growth, 0.2% jobsPanama City, FL: 10.30 permits per 1,000 residents, 0.8% rent growth, 0.2% jobsCharleston, SC: 10.10 permits per 1,000 residents, 3.2% rent growth, 0.5% jobsNaples, FL: 9.68 permits per 1,000 residents, 0.2% rent growth, -1.4% jobsBreckenridge, CO: 9.64 permits per 1,000 residents, 3.2% rent growth, -1.5% jobsKennewick, WA: 9.58 permits per 1,000 residents, 2.0% rent growth, 1.1% jobsGreenville, SC: 9.49 permits per 1,000 residents, 1.8% rent growth, 1.4% jobsSeneca, SC: 9.22 permits per 1,000 residents, 0.0% rent growth, 2.8% jobsClarksville, TN: 9.21 permits per 1,000 residents, 1.1% rent growth, 0.2% jobsLakeland, FL: 9.20 permits per 1,000 residents, 1.1% rent growth, 1.3% jobsPort St. Lucie, FL: 8.86 permits per 1,000 residents, 2.3% rent growth, -0.1% jobsAustin, TX: 8.66 permits per 1,000 residents, -1.9% rent growth, 1.4% jobsCalhoun, GA: 8.56 permits per 1,000 residents, -1.6% rent growth, -0.2% jobsProvo, UT: 8.47 permits per 1,000 residents, 2.2% rent growth, 1.4% jobsHelena, MT: 8.37 permits per 1,000 residents, 1.9% rent growth, -0.2% jobsPensacola, FL: 8.33 permits per 1,000 residents, 2.7% rent growth, 0.7% jobsSherman, TX: 8.27 permits per 1,000 residents, -5.0% rent growth, 1.7% jobsDover, DE: 8.14 permits per 1,000 residents, 2.7% rent growth, -0.9% jobsOdessa, TX: 8.07 permits per 1,000 residents, -4.5% rent growth, 0.0% jobsHuntsville, AL: 8.07 permits per 1,000 residents, 1.3% rent growth, 1.0% jobsLubbock, TX: 8.03 permits per 1,000 residents, 1.7% rent growth, 0.6% jobsNashville, TN: 7.96 permits per 1,000 residents, 0.4% rent growth, 0.6% jobsCleveland, TN: 7.96 permits per 1,000 residents, 0.8% rent growth, -0.7% jobsRochester, MN: 7.92 permits per 1,000 residents, 2.5% rent growth, 0.4% jobsCookeville, TN: 7.90 permits per 1,000 residents, -1.6% rent growth, 0.8% jobsCharlotte, NC: 7.89 permits per 1,000 residents, 0.4% rent growth, 1.1% jobsHouston, TX: 7.88 permits per 1,000 residents, 0.0% rent growth, 0.6% jobsKnoxville, TN: 7.80 permits per 1,000 residents, 0.2% rent growth, 0.9% jobsMcAllen, TX: 7.79 permits per 1,000 residents, 0.0% rent growth, 1.1% jobsDubuque, IA: 7.74 permits per 1,000 residents, 3.0% rent growth, -1.8% jobsHanford, CA: 7.35 permits per 1,000 residents, 2.3% rent growth, 0.9% jobsMadison, WI: 7.33 permits per 1,000 residents, 2.7% rent growth, -0.4% jobsJacksonville, FL: 7.29 permits per 1,000 residents, 1.1% rent growth, -0.4% jobsOmaha, NE: 7.26 permits per 1,000 residents, 3.0% rent growth, 0.5% jobsJonesboro, AR: 7.26 permits per 1,000 residents, 3.1% rent growth, 1.0% jobsPocatello, ID: 7.22 permits per 1,000 residents, 0.6% rent growth, -1.1% jobsOrlando, FL: 7.16 permits per 1,000 residents, 0.6% rent growth, 0.7% jobsPortland, ME: 7.14 permits per 1,000 residents, 2.7% rent growth, 0.3% jobsTullahoma, TN: 7.11 permits per 1,000 residents, 2.1% rent growth, 0.3% jobsPhoenix, AZ: 6.78 permits per 1,000 residents, -0.1% rent growth, 0.2% jobsWinston, NC: 6.77 permits per 1,000 residents, 2.2% rent growth, 0.8% jobsKalispell, MT: 6.76 permits per 1,000 residents, 2.0% rent growth, 1.0% jobsLafayette, IN: 6.58 permits per 1,000 residents, 2.2% rent growth, -0.1% jobsIndianapolis, IN: 6.53 permits per 1,000 residents, 2.4% rent growth, -0.4% jobsGreen Bay, WI: 6.52 permits per 1,000 residents, 2.6% rent growth, 0.4% jobsHuntsville, TX: 6.48 permits per 1,000 residents, 1.2% rent growth, -0.5% jobsKilleen, TX: 6.45 permits per 1,000 residents, -0.9% rent growth, 0.2% jobsFort Collins, CO: 6.42 permits per 1,000 residents, 1.2% rent growth, 0.3% jobsWarner Robins, GA: 6.41 permits per 1,000 residents, 1.8% rent growth, -1.3% jobsTampa, FL: 6.39 permits per 1,000 residents, -0.9% rent growth, 0.1% jobsDeltona, FL: 6.35 permits per 1,000 residents, 0.5% rent growth, 0.5% jobsBrunswick, GA: 6.31 permits per 1,000 residents, 1.1% rent growth, 1.6% jobsGainesville, FL: 6.29 permits per 1,000 residents, 1.5% rent growth, 0.4% jobsWaco, TX: 6.26 permits per 1,000 residents, 1.0% rent growth, 0.7% jobsBay City, TX: 6.17 permits per 1,000 residents, 0.3% rent growth, 3.9% jobsCharlottesville, VA: 6.14 permits per 1,000 residents, 1.5% rent growth, 0.9% jobsValdosta, GA: 6.13 permits per 1,000 residents, 2.0% rent growth, -0.7% jobsAugusta, GA: 6.04 permits per 1,000 residents, 1.3% rent growth, 0.5% jobsOlympia, WA: 6.01 permits per 1,000 residents, 2.5% rent growth, 0.1% jobsSebring, FL: 5.88 permits per 1,000 residents, 0.7% rent growth, 0.3% jobsPalm Bay, FL: 5.84 permits per 1,000 residents, 1.2% rent growth, 0.2% jobsBoulder, CO: 5.82 permits per 1,000 residents, 1.0% rent growth, -0.9% jobsCorvallis, OR: 5.79 permits per 1,000 residents, 2.7% rent growth, -0.7% jobsAtlanta, GA: 5.73 permits per 1,000 residents, 1.8% rent growth, 0.2% jobsEaston, MD: 5.70 permits per 1,000 residents, 0.0% rent growth, 0.7% jobsColumbus, OH: 5.70 permits per 1,000 residents, 1.6% rent growth, 0.6% jobsDenver, CO: 5.67 permits per 1,000 residents, -1.5% rent growth, -0.1% jobsOklahoma City, OK: 5.67 permits per 1,000 residents, 3.0% rent growth, -0.6% jobsTallahassee, FL: 5.54 permits per 1,000 residents, 1.5% rent growth, 0.2% jobsSpokane, WA: 5.53 permits per 1,000 residents, 2.1% rent growth, 0.1% jobsLincoln, NE: 5.51 permits per 1,000 residents, 2.7% rent growth, 0.6% jobsYuma, AZ: 5.45 permits per 1,000 residents, 2.5% rent growth, -2.4% jobsDes Moines, IA: 5.42 permits per 1,000 residents, 2.3% rent growth, -0.5% jobsHagerstown, MD: 5.32 permits per 1,000 residents, 3.0% rent growth, -0.2% jobsLafayette, LA: 5.27 permits per 1,000 residents, 0.6% rent growth, 0.4% jobsAlbemarle, NC: 5.26 permits per 1,000 residents, 2.4% rent growth, -0.9% jobsElizabethtown, KY: 5.19 permits per 1,000 residents, -0.3% rent growth, -0.4% jobsLexington, KY: 5.19 permits per 1,000 residents, 3.3% rent growth, 0.7% jobsBrevard, NC: 5.16 permits per 1,000 residents, -1.9% rent growth, -0.4% jobsEau Claire, WI: 5.15 permits per 1,000 residents, 1.8% rent growth, -0.2% jobsBowling Green, KY: 5.13 permits per 1,000 residents, 3.0% rent growth, 0.8% jobsGreensboro, NC: 5.04 permits per 1,000 residents, 2.6% rent growth, 0.5% jobsFlorence, SC: 4.97 permits per 1,000 residents, 1.8% rent growth, -0.1% jobsLaredo, TX: 4.89 permits per 1,000 residents, -0.7% rent growth, 1.1% jobsFrankfort, KY: 4.88 permits per 1,000 residents, 1.8% rent growth, 2.5% jobsTwin Falls, ID: 4.84 permits per 1,000 residents, 2.4% rent growth, 1.1% jobsAlbany, GA: 4.79 permits per 1,000 residents, 0.5% rent growth, -2.8% jobsOgden, UT: 4.79 permits per 1,000 residents, 0.5% rent growth, -0.9% jobsSalem, OR: 4.77 permits per 1,000 residents, -0.1% rent growth, 1.4% jobsVisalia, CA: 4.68 permits per 1,000 residents, 2.6% rent growth, 0.6% jobsTulsa, OK: 4.68 permits per 1,000 residents, 3.3% rent growth, 0.1% jobsSpringfield, MO: 4.66 permits per 1,000 residents, 2.8% rent growth, 0.6% jobsRome, GA: 4.65 permits per 1,000 residents, 1.1% rent growth, -0.7% jobsCincinnati, OH: 4.63 permits per 1,000 residents, 2.9% rent growth, 0.2% jobsBellingham, WA: 4.58 permits per 1,000 residents, 1.0% rent growth, -0.3% jobsSacramento, CA: 4.57 permits per 1,000 residents, 2.0% rent growth, 0.7% jobsSan Antonio, TX: 4.38 permits per 1,000 residents, -2.0% rent growth, 0.1% jobsKokomo, IN: 4.32 permits per 1,000 residents, 3.3% rent growth, -2.0% jobsPahrump, NV: 4.31 permits per 1,000 residents, 0.5% rent growth, 2.2% jobsTucson, AZ: 4.30 permits per 1,000 residents, 0.8% rent growth, -0.2% jobsRichmond, KY: 4.29 permits per 1,000 residents, 3.3% rent growth, 1.1% jobsMoses Lake, WA: 4.28 permits per 1,000 residents, -2.7% rent growth, -0.9% jobsMorristown, TN: 4.28 permits per 1,000 residents, 2.6% rent growth, -1.1% jobsLaGrange, GA: 4.27 permits per 1,000 residents, 2.7% rent growth, 1.4% jobsJohnson City, TN: 4.25 permits per 1,000 residents, 1.3% rent growth, -0.3% jobsSalt Lake City, UT: 4.19 permits per 1,000 residents, 0.5% rent growth, 1.3% jobsShow Low, AZ: 4.17 permits per 1,000 residents, 2.7% rent growth, -2.1% jobsGettysburg, PA: 4.11 permits per 1,000 residents, 0.9% rent growth, 0.6% jobsPortland, OR: 4.09 permits per 1,000 residents, 0.4% rent growth, -1.8% jobsLynchburg, VA: 4.09 permits per 1,000 residents, 3.1% rent growth, 0.5% jobsMedford, OR: 4.03 permits per 1,000 residents, 3.3% rent growth, 0.1% jobsBaton Rouge, LA: 4.02 permits per 1,000 residents, 3.1% rent growth, 0.0% jobsBirmingham, AL: 3.98 permits per 1,000 residents, 1.2% rent growth, 0.2% jobsLouisville, KY: 3.98 permits per 1,000 residents, 2.3% rent growth, -0.8% jobsMoscow, ID: 3.95 permits per 1,000 residents, -1.6% rent growth, -1.0% jobsWarsaw, IN: 3.95 permits per 1,000 residents, 1.6% rent growth, -0.1% jobsAnn Arbor, MI: 3.94 permits per 1,000 residents, 1.8% rent growth, 0.1% jobsChico, CA: 3.94 permits per 1,000 residents, 2.7% rent growth, -0.7% jobsPort Angeles, WA: 3.93 permits per 1,000 residents, 1.5% rent growth, 0.3% jobsLas Vegas, NV: 3.90 permits per 1,000 residents, 0.2% rent growth, 1.9% jobsDothan, AL: 3.89 permits per 1,000 residents, 1.1% rent growth, 0.6% jobsRacine, WI: 3.81 permits per 1,000 residents, 3.1% rent growth, -0.8% jobsBrenham, TX: 3.77 permits per 1,000 residents, -0.6% rent growth, 1.3% jobsAugusta, ME: 3.77 permits per 1,000 residents, 2.4% rent growth, -1.0% jobsLittle Rock, AR: 3.74 permits per 1,000 residents, 2.3% rent growth, 0.2% jobsDurango, CO: 3.73 permits per 1,000 residents, 0.5% rent growth, 0.1% jobsLake Havasu City, AZ: 3.70 permits per 1,000 residents, 2.2% rent growth, -1.2% jobsLas Cruces, NM: 3.56 permits per 1,000 residents, 1.9% rent growth, 1.9% jobsSan Luis Obispo, CA: 3.55 permits per 1,000 residents, 1.4% rent growth, -1.3% jobsNapa, CA: 3.53 permits per 1,000 residents, 0.9% rent growth, 0.7% jobsBemidji, MN: 3.53 permits per 1,000 residents, 2.3% rent growth, -1.1% jobsRocky Mount, NC: 3.50 permits per 1,000 residents, -0.6% rent growth, -0.5% jobsBakersfield, CA: 3.47 permits per 1,000 residents, 1.8% rent growth, 1.6% jobsBlackfoot, ID: 3.42 permits per 1,000 residents, 2.6% rent growth, -0.3% jobsIthaca, NY: 3.37 permits per 1,000 residents, 1.7% rent growth, 0.2% jobsStockton, CA: 3.34 permits per 1,000 residents, 1.0% rent growth, 1.8% jobsAthens, TN: 3.20 permits per 1,000 residents, 1.3% rent growth, 0.4% jobsSearcy, AR: 3.19 permits per 1,000 residents, 2.8% rent growth, 0.9% jobsMobile, AL: 3.17 permits per 1,000 residents, 2.8% rent growth, -1.4% jobsStevens Point, WI: 3.11 permits per 1,000 residents, 2.1% rent growth, 0.1% jobsAuburn, AL: 15.56 permits per 1,000 residents, 4.6% rent growth, 1.8% jobsSevierville, TN: 15.43 permits per 1,000 residents, 11.9% rent growth, 0.2% jobsDaphne, AL: 14.31 permits per 1,000 residents, 4.3% rent growth, 2.3% jobsGreenville, NC: 14.24 permits per 1,000 residents, 4.4% rent growth, 1.6% jobsAbilene, TX: 13.77 permits per 1,000 residents, 41.4% rent growth, 0.8% jobsHeber, UT: 12.79 permits per 1,000 residents, 11.0% rent growth, 0.7% jobsBoise City, ID: 12.22 permits per 1,000 residents, 5.0% rent growth, 1.0% jobsChampaign, IL: 11.79 permits per 1,000 residents, 5.6% rent growth, 0.6% jobsJacksonville, NC: 11.78 permits per 1,000 residents, 3.6% rent growth, -0.3% jobsBranson, MO: 11.75 permits per 1,000 residents, 4.0% rent growth, 0.9% jobsLogan, UT: 11.57 permits per 1,000 residents, 3.9% rent growth, 0.7% jobsHinesville, GA: 11.47 permits per 1,000 residents, 4.8% rent growth, -1.4% jobsStatesboro, GA: 11.39 permits per 1,000 residents, 4.5% rent growth, 0.7% jobsSanford, NC: 11.33 permits per 1,000 residents, 4.4% rent growth, -0.6% jobsJackson, WY: 10.94 permits per 1,000 residents, 8.0% rent growth, -0.3% jobsBrainerd, MN: 10.11 permits per 1,000 residents, 3.8% rent growth, -1.5% jobsBend, OR: 9.85 permits per 1,000 residents, 3.7% rent growth, -0.4% jobsBaraboo, WI: 9.54 permits per 1,000 residents, 3.5% rent growth, -0.7% jobsCorsicana, TX: 9.14 permits per 1,000 residents, 4.0% rent growth, 1.2% jobsSioux Falls, SD: 9.14 permits per 1,000 residents, 4.0% rent growth, 0.3% jobsHammond, LA: 8.95 permits per 1,000 residents, 4.2% rent growth, -1.8% jobsIowa City, IA: 8.40 permits per 1,000 residents, 5.0% rent growth, 0.1% jobsHarrisonburg, VA: 8.34 permits per 1,000 residents, 4.8% rent growth, 0.8% jobsGulfport, MS: 8.05 permits per 1,000 residents, 5.0% rent growth, 0.4% jobsOxford, MS: 7.92 permits per 1,000 residents, 4.5% rent growth, 2.9% jobsMountain Home, ID: 7.84 permits per 1,000 residents, 6.2% rent growth, -0.5% jobsMilledgeville, GA: 7.79 permits per 1,000 residents, 3.6% rent growth, 2.3% jobsGoldsboro, NC: 7.64 permits per 1,000 residents, 4.3% rent growth, -1.2% jobsEllensburg, WA: 7.59 permits per 1,000 residents, 3.8% rent growth, 0.8% jobsOshkosh, WI: 7.56 permits per 1,000 residents, 3.4% rent growth, -0.9% jobsElizabeth City, NC: 7.54 permits per 1,000 residents, 3.5% rent growth, -1.7% jobsRichmond, VA: 7.38 permits per 1,000 residents, 3.3% rent growth, 0.2% jobsCarson City, NV: 7.30 permits per 1,000 residents, 5.8% rent growth, 1.0% jobsRapid City, SD: 7.23 permits per 1,000 residents, 3.6% rent growth, 1.6% jobsGreenwood, SC: 7.05 permits per 1,000 residents, 6.9% rent growth, 2.2% jobsSteamboat Springs, CO: 7.05 permits per 1,000 residents, 8.5% rent growth, -3.6% jobsReno, NV: 6.97 permits per 1,000 residents, 6.5% rent growth, 1.9% jobsDurant, OK: 6.92 permits per 1,000 residents, 4.3% rent growth, -0.1% jobsCarlsbad, NM: 6.78 permits per 1,000 residents, 6.8% rent growth, 2.4% jobsWichita, KS: 6.71 permits per 1,000 residents, 5.3% rent growth, 0.2% jobsLaconia, NH: 6.62 permits per 1,000 residents, 11.3% rent growth, 0.7% jobsTraverse City, MI: 6.55 permits per 1,000 residents, 6.1% rent growth, 2.5% jobsMorehead City, NC: 6.39 permits per 1,000 residents, 3.8% rent growth, 0.0% jobsWinchester, VA: 6.37 permits per 1,000 residents, 4.6% rent growth, 0.3% jobsBrownsville, TX: 6.28 permits per 1,000 residents, 6.0% rent growth, -1.2% jobsHilo, HI: 6.17 permits per 1,000 residents, 16.6% rent growth, 0.6% jobsOntario, OR: 5.99 permits per 1,000 residents, 3.4% rent growth, 0.5% jobsMontrose, CO: 5.84 permits per 1,000 residents, 8.9% rent growth, 0.7% jobsGaffney, SC: 5.83 permits per 1,000 residents, 4.3% rent growth, 0.7% jobsShelby, NC: 5.80 permits per 1,000 residents, 4.2% rent growth, -0.8% jobsGrand Junction, CO: 5.73 permits per 1,000 residents, 3.8% rent growth, -0.2% jobsMissoula, MT: 5.65 permits per 1,000 residents, 3.8% rent growth, -0.2% jobsEdwards, CO: 5.55 permits per 1,000 residents, 7.9% rent growth, -0.5% jobsAppleton, WI: 5.44 permits per 1,000 residents, 4.6% rent growth, -0.5% jobsColumbia, MO: 5.38 permits per 1,000 residents, 4.3% rent growth, 1.2% jobsEnterprise, AL: 5.35 permits per 1,000 residents, 5.0% rent growth, 1.1% jobsKansas City, MO: 5.25 permits per 1,000 residents, 3.5% rent growth, 0.5% jobsWalla Walla, WA: 5.24 permits per 1,000 residents, 3.4% rent growth, -1.3% jobsChambersburg, PA: 5.24 permits per 1,000 residents, 4.8% rent growth, 0.9% jobsNew Bern, NC: 5.20 permits per 1,000 residents, 4.0% rent growth, -1.0% jobsBillings, MT: 5.11 permits per 1,000 residents, 3.5% rent growth, -0.5% jobsRuston, LA: 4.98 permits per 1,000 residents, 6.2% rent growth, 2.6% jobsNewport, OR: 4.87 permits per 1,000 residents, 3.8% rent growth, -0.5% jobsStaunton, VA: 4.87 permits per 1,000 residents, 5.3% rent growth, -0.5% jobsRolla, MO: 4.82 permits per 1,000 residents, 9.2% rent growth, 1.9% jobsCheyenne, WY: 4.81 permits per 1,000 residents, 3.9% rent growth, -0.1% jobsBrookings, SD: 4.64 permits per 1,000 residents, 3.3% rent growth, 1.6% jobsBlacksburg, VA: 4.54 permits per 1,000 residents, 4.9% rent growth, -1.9% jobsWilson, NC: 4.49 permits per 1,000 residents, 4.9% rent growth, -0.5% jobsAmarillo, TX: 4.37 permits per 1,000 residents, 5.3% rent growth, 0.8% jobsState College, PA: 4.26 permits per 1,000 residents, 6.0% rent growth, 2.3% jobsOak Harbor, WA: 4.19 permits per 1,000 residents, 4.8% rent growth, 0.8% jobsRoanoke, VA: 4.17 permits per 1,000 residents, 5.4% rent growth, 0.3% jobsDalton, GA: 4.05 permits per 1,000 residents, 5.3% rent growth, -2.3% jobsLewiston, ME: 3.99 permits per 1,000 residents, 3.7% rent growth, 0.3% jobsYuba City, CA: 3.86 permits per 1,000 residents, 3.5% rent growth, 2.1% jobsGreeneville, TN: 3.80 permits per 1,000 residents, 6.4% rent growth, 0.1% jobsSan Jose, CA: 3.79 permits per 1,000 residents, 6.3% rent growth, 1.4% jobsFort Wayne, IN: 3.78 permits per 1,000 residents, 6.6% rent growth, 0.7% jobsVirginia Beach, VA: 3.76 permits per 1,000 residents, 5.5% rent growth, -0.4% jobsMinneapolis, MN: 3.74 permits per 1,000 residents, 3.5% rent growth, 0.2% jobsAtlantic City, NJ: 3.70 permits per 1,000 residents, 4.4% rent growth, 1.6% jobsConcord, NH: 3.63 permits per 1,000 residents, 4.4% rent growth, -0.6% jobsKearney, NE: 3.63 permits per 1,000 residents, 10.9% rent growth, 0.4% jobsParagould, AR: 3.62 permits per 1,000 residents, 4.3% rent growth, -1.7% jobsManhattan, KS: 3.55 permits per 1,000 residents, 5.1% rent growth, -0.9% jobsCedar Rapids, IA: 3.51 permits per 1,000 residents, 12.5% rent growth, -2.1% jobsWhitewater, WI: 3.50 permits per 1,000 residents, 8.2% rent growth, -0.3% jobsSumter, SC: 3.49 permits per 1,000 residents, 3.8% rent growth, 0.3% jobsBangor, ME: 3.45 permits per 1,000 residents, 3.8% rent growth, -0.2% jobsAberdeen, WA: 3.40 permits per 1,000 residents, 7.6% rent growth, 1.8% jobsCentralia, WA: 3.38 permits per 1,000 residents, 5.7% rent growth, 1.2% jobsJackson, MS: 3.36 permits per 1,000 residents, 4.4% rent growth, -0.8% jobsJoplin, MO: 3.35 permits per 1,000 residents, 5.8% rent growth, 0.7% jobsBremerton, WA: 3.33 permits per 1,000 residents, 3.5% rent growth, -0.4% jobsTopeka, KS: 3.32 permits per 1,000 residents, 5.4% rent growth, 1.3% jobsFayetteville, NC: 3.24 permits per 1,000 residents, 3.4% rent growth, -1.3% jobsFort Smith, AR: 3.24 permits per 1,000 residents, 4.7% rent growth, -0.8% jobsKingsport, TN: 3.24 permits per 1,000 residents, 6.0% rent growth, 1.2% jobsSan Angelo, TX: 3.16 permits per 1,000 residents, 5.1% rent growth, 0.3% jobsSouth Bend, IN: 3.11 permits per 1,000 residents, 6.0% rent growth, -0.7% jobsCrawfordsville, IN: 3.08 permits per 1,000 residents, 8.4% rent growth, 1.1% jobsSandusky, OH: 3.04 permits per 1,000 residents, 9.7% rent growth, 2.1% jobsKerrville, TX: 3.03 permits per 1,000 residents, 3.9% rent growth, 0.9% jobsKahului, HI: 3.01 permits per 1,000 residents, 5.2% rent growth, 1.2% jobsHolland, MI: 3.01 permits per 1,000 residents, 8.6% rent growth, -0.8% jobsTerre Haute, IN: 3.00 permits per 1,000 residents, 5.0% rent growth, 0.5% jobsLake Charles, LA: 2.96 permits per 1,000 residents, 17.6% rent growth, 1.3% jobsElko, NV: 2.95 permits per 1,000 residents, 5.3% rent growth, 1.6% jobsShreveport, LA: 2.93 permits per 1,000 residents, 3.6% rent growth, 0.0% jobsSanta Maria, CA: 2.83 permits per 1,000 residents, 3.6% rent growth, 0.3% jobsBarre, VT: 2.83 permits per 1,000 residents, 6.5% rent growth, -2.6% jobsFresno, CA: 2.82 permits per 1,000 residents, 3.6% rent growth, 0.9% jobsEvansville, IN: 2.79 permits per 1,000 residents, 5.2% rent growth, -1.3% jobsYakima, WA: 2.75 permits per 1,000 residents, 3.7% rent growth, 0.2% jobsYork, PA: 2.73 permits per 1,000 residents, 3.9% rent growth, 0.1% jobsHouma, LA: 2.71 permits per 1,000 residents, 4.3% rent growth, -0.4% jobsMount Vernon, WA: 2.71 permits per 1,000 residents, 5.3% rent growth, 0.5% jobsKingston, NY: 2.71 permits per 1,000 residents, 5.6% rent growth, 1.3% jobsGlens Falls, NY: 2.70 permits per 1,000 residents, 8.6% rent growth, -0.8% jobsBismarck, ND: 2.69 permits per 1,000 residents, 4.5% rent growth, 0.3% jobsLa Crosse, WI: 2.64 permits per 1,000 residents, 3.7% rent growth, 0.2% jobsMichigan City, IN: 2.64 permits per 1,000 residents, 4.1% rent growth, -0.3% jobsTexarkana, TX: 2.60 permits per 1,000 residents, 5.3% rent growth, 0.1% jobsJanesville, WI: 2.60 permits per 1,000 residents, 5.9% rent growth, -0.3% jobsDyersburg, TN: 2.52 permits per 1,000 residents, 5.3% rent growth, 0.3% jobsNorwich, CT: 2.51 permits per 1,000 residents, 4.8% rent growth, 0.8% jobsSt. Cloud, MN: 2.51 permits per 1,000 residents, 5.0% rent growth, -0.2% jobsSt. Louis, MO: 2.50 permits per 1,000 residents, 4.2% rent growth, -0.5% jobsFlorence, AL: 2.47 permits per 1,000 residents, 4.8% rent growth, 0.0% jobsHarrisburg, PA: 2.46 permits per 1,000 residents, 3.4% rent growth, 0.0% jobsMontgomery, AL: 2.43 permits per 1,000 residents, 3.4% rent growth, -0.3% jobsVernal, UT: 2.43 permits per 1,000 residents, 3.6% rent growth, 0.9% jobsThomasville, GA: 2.39 permits per 1,000 residents, 5.3% rent growth, -0.2% jobsLa Grande, OR: 2.37 permits per 1,000 residents, 6.9% rent growth, 1.0% jobsStillwater, OK: 2.36 permits per 1,000 residents, 6.2% rent growth, -1.1% jobsNiles, MI: 2.30 permits per 1,000 residents, 7.3% rent growth, 0.5% jobsLawrence, KS: 2.29 permits per 1,000 residents, 5.8% rent growth, 0.2% jobsTuscaloosa, AL: 2.28 permits per 1,000 residents, 4.6% rent growth, -0.4% jobsJackson, MI: 2.26 permits per 1,000 residents, 6.3% rent growth, -0.2% jobsKeene, NH: 2.23 permits per 1,000 residents, 4.8% rent growth, 0.1% jobsGreat Falls, MT: 2.22 permits per 1,000 residents, 5.2% rent growth, -2.5% jobsWatertown, WI: 2.21 permits per 1,000 residents, 4.0% rent growth, -0.8% jobsPittsburgh, PA: 2.20 permits per 1,000 residents, 3.6% rent growth, 0.0% jobsWisconsin Rapids, WI: 2.19 permits per 1,000 residents, 4.5% rent growth, -2.4% jobsNorfolk, NE: 2.18 permits per 1,000 residents, 3.5% rent growth, 0.7% jobsWausau, WI: 2.11 permits per 1,000 residents, 7.9% rent growth, -1.4% jobsTruckee, CA: 2.09 permits per 1,000 residents, 4.3% rent growth, -0.8% jobsMilwaukee, WI: 2.08 permits per 1,000 residents, 4.2% rent growth, -0.9% jobsMuskegon, MI: 2.07 permits per 1,000 residents, 8.2% rent growth, 1.0% jobsGardnerville Ranchos, NV: 2.07 permits per 1,000 residents, 12.2% rent growth, 4.7% jobsMonroe, LA: 2.06 permits per 1,000 residents, 19.1% rent growth, 1.1% jobsWatertown, NY: 2.00 permits per 1,000 residents, 7.2% rent growth, 1.7% jobsLansing, MI: 1.99 permits per 1,000 residents, 4.4% rent growth, -1.1% jobsAlbany, NY: 1.93 permits per 1,000 residents, 4.6% rent growth, 0.8% jobsWahpeton, ND: 1.92 permits per 1,000 residents, 4.6% rent growth, 0.3% jobsKalamazoo, MI: 1.90 permits per 1,000 residents, 5.0% rent growth, -0.4% jobsOwensboro, KY: 1.90 permits per 1,000 residents, 5.4% rent growth, 0.1% jobsBloomsburg, PA: 1.90 permits per 1,000 residents, 7.8% rent growth, -0.9% jobsSalinas, CA: 1.89 permits per 1,000 residents, 5.7% rent growth, 1.4% jobsShelton, WA: 1.88 permits per 1,000 residents, 4.5% rent growth, 1.0% jobsOneonta, NY: 1.86 permits per 1,000 residents, 11.0% rent growth, 1.0% jobsAllentown, PA: 1.85 permits per 1,000 residents, 3.8% rent growth, 1.1% jobsHobbs, NM: 1.84 permits per 1,000 residents, 3.4% rent growth, -0.7% jobsProvidence, RI: 1.83 permits per 1,000 residents, 3.6% rent growth, -0.3% jobsElkhart, IN: 1.82 permits per 1,000 residents, 7.1% rent growth, 0.9% jobsHudson, NY: 1.80 permits per 1,000 residents, 4.1% rent growth, 0.0% jobsKapaa, HI: 1.79 permits per 1,000 residents, 17.2% rent growth, 0.7% jobsEast Stroudsburg, PA: 1.78 permits per 1,000 residents, 7.1% rent growth, 0.9% jobsArdmore, OK: 1.77 permits per 1,000 residents, 6.2% rent growth, -1.2% jobsClearlake, CA: 1.76 permits per 1,000 residents, 6.2% rent growth, 0.6% jobsUrban Honolulu, HI: 1.75 permits per 1,000 residents, 5.2% rent growth, 0.1% jobsMinot, ND: 1.75 permits per 1,000 residents, 6.5% rent growth, 0.2% jobsSandpoint, ID: 1.68 permits per 1,000 residents, 4.1% rent growth, 0.6% jobsColumbus, IN: 1.65 permits per 1,000 residents, 3.6% rent growth, -1.3% jobsFond du Lac, WI: 1.65 permits per 1,000 residents, 8.8% rent growth, 0.6% jobsBinghamton, NY: 1.64 permits per 1,000 residents, 5.5% rent growth, 1.3% jobsLawton, OK: 1.62 permits per 1,000 residents, 5.8% rent growth, -1.5% jobsBeaver Dam, WI: 1.60 permits per 1,000 residents, 6.4% rent growth, 0.1% jobsFort Leonard Wood, MO: 1.60 permits per 1,000 residents, 6.8% rent growth, -1.4% jobsLufkin, TX: 1.58 permits per 1,000 residents, 7.4% rent growth, -3.0% jobsCoos Bay, OR: 1.57 permits per 1,000 residents, 9.8% rent growth, -0.1% jobsPittsburg, KS: 1.54 permits per 1,000 residents, 5.3% rent growth, -0.1% jobsZanesville, OH: 1.53 permits per 1,000 residents, 4.2% rent growth, 0.0% jobsLancaster, PA: 1.52 permits per 1,000 residents, 3.7% rent growth, 0.8% jobsDavenport, IA: 1.50 permits per 1,000 residents, 4.4% rent growth, -0.5% jobsCanton, OH: 1.49 permits per 1,000 residents, 3.6% rent growth, -0.3% jobsRoseburg, OR: 1.45 permits per 1,000 residents, 4.6% rent growth, 0.3% jobsJefferson City, MO: 1.45 permits per 1,000 residents, 6.7% rent growth, 0.7% jobsLima, OH: 1.42 permits per 1,000 residents, 5.4% rent growth, 0.1% jobsElmira, NY: 1.41 permits per 1,000 residents, 4.5% rent growth, 0.0% jobsEl Centro, CA: 1.41 permits per 1,000 residents, 9.3% rent growth, 0.9% jobsPottsville, PA: 1.39 permits per 1,000 residents, 8.4% rent growth, 0.1% jobsMount Pleasant, MI: 1.39 permits per 1,000 residents, 11.6% rent growth, -1.1% jobsAberdeen, SD: 1.38 permits per 1,000 residents, 14.6% rent growth, -0.3% jobsReading, PA: 1.36 permits per 1,000 residents, 4.1% rent growth, 0.2% jobsWichita Falls, TX: 1.35 permits per 1,000 residents, 5.1% rent growth, -0.3% jobsMidland, MI: 1.31 permits per 1,000 residents, 3.9% rent growth, -2.5% jobsSalina, KS: 1.31 permits per 1,000 residents, 5.0% rent growth, 1.5% jobsRoswell, NM: 1.31 permits per 1,000 residents, 7.1% rent growth, -1.6% jobsFindlay, OH: 1.31 permits per 1,000 residents, 9.2% rent growth, -0.4% jobsFaribault, MN: 1.30 permits per 1,000 residents, 3.8% rent growth, -0.1% jobsSyracuse, NY: 1.29 permits per 1,000 residents, 4.9% rent growth, 1.2% jobsClovis, NM: 1.29 permits per 1,000 residents, 5.2% rent growth, -1.4% jobsWinona, MN: 1.29 permits per 1,000 residents, 18.6% rent growth, -1.6% jobsSpringfield, IL: 1.28 permits per 1,000 residents, 5.4% rent growth, -3.0% jobsPaducah, KY: 1.28 permits per 1,000 residents, 6.7% rent growth, 0.6% jobsGadsden, AL: 1.26 permits per 1,000 residents, 3.7% rent growth, -0.1% jobsStarkville, MS: 1.26 permits per 1,000 residents, 5.6% rent growth, 1.0% jobsHuntington, WV: 1.24 permits per 1,000 residents, 5.1% rent growth, 0.4% jobsMonroe, MI: 1.18 permits per 1,000 residents, 3.4% rent growth, -0.1% jobsAshland, OH: 1.15 permits per 1,000 residents, 17.1% rent growth, -1.8% jobsFlint, MI: 1.13 permits per 1,000 residents, 5.1% rent growth, 0.5% jobsGainesville, TX: 1.12 permits per 1,000 residents, 5.1% rent growth, 1.4% jobsBloomington, IL: 1.10 permits per 1,000 residents, 4.3% rent growth, -1.5% jobsMansfield, OH: 1.10 permits per 1,000 residents, 5.1% rent growth, -1.1% jobsEmporia, KS: 1.09 permits per 1,000 residents, 7.7% rent growth, -2.8% jobsAustin, MN: 1.09 permits per 1,000 residents, 8.0% rent growth, -0.8% jobsCumberland, MD: 1.08 permits per 1,000 residents, 3.6% rent growth, -2.3% jobsScranton, PA: 1.06 permits per 1,000 residents, 4.0% rent growth, 0.1% jobsAkron, OH: 1.01 permits per 1,000 residents, 5.8% rent growth, -0.5% jobsRichmond, IN: 0.99 permits per 1,000 residents, 6.2% rent growth, 0.3% jobsUtica, NY: 0.98 permits per 1,000 residents, 5.8% rent growth, -0.3% jobsJamestown, NY: 0.97 permits per 1,000 residents, 15.0% rent growth, 0.2% jobsKankakee, IL: 0.96 permits per 1,000 residents, 4.0% rent growth, -0.7% jobsRussellville, AR: 0.95 permits per 1,000 residents, 4.7% rent growth, 0.2% jobsAthens, OH: 0.94 permits per 1,000 residents, 11.0% rent growth, 1.0% jobsMuskogee, OK: 0.93 permits per 1,000 residents, 16.1% rent growth, -1.4% jobsAnniston, AL: 0.91 permits per 1,000 residents, 4.8% rent growth, -0.5% jobsBattle Creek, MI: 0.91 permits per 1,000 residents, 6.4% rent growth, 0.7% jobsRed Bluff, CA: 0.89 permits per 1,000 residents, 5.3% rent growth, 0.7% jobsSaginaw, MI: 0.89 permits per 1,000 residents, 7.6% rent growth, 1.6% jobsSonora, CA: 0.88 permits per 1,000 residents, 8.1% rent growth, -0.1% jobsHot Springs, AR: 0.86 permits per 1,000 residents, 6.5% rent growth, 0.6% jobsLock Haven, PA: 0.85 permits per 1,000 residents, 6.6% rent growth, -0.2% jobsPullman, WA: 0.85 permits per 1,000 residents, 6.9% rent growth, -0.5% jobsDanville, VA: 0.82 permits per 1,000 residents, 7.5% rent growth, -1.2% jobsRockford, IL: 0.81 permits per 1,000 residents, 8.8% rent growth, -1.4% jobsMarquette, MI: 0.80 permits per 1,000 residents, 5.4% rent growth, -3.4% jobsYoungstown, OH: 0.78 permits per 1,000 residents, 5.5% rent growth, -0.7% jobsAnchorage, AK: 0.74 permits per 1,000 residents, 4.3% rent growth, -0.7% jobsMuncie, IN: 0.73 permits per 1,000 residents, 6.0% rent growth, -0.3% jobsAda, OK: 0.73 permits per 1,000 residents, 6.5% rent growth, -0.6% jobsAltoona, PA: 0.73 permits per 1,000 residents, 7.7% rent growth, -0.1% jobsPonca City, OK: 0.73 permits per 1,000 residents, 10.9% rent growth, 0.6% jobsWilliamsport, PA: 0.70 permits per 1,000 residents, 7.5% rent growth, 0.8% jobsIndiana, PA: 0.70 permits per 1,000 residents, 25.1% rent growth, 0.8% jobsHutchinson, KS: 0.65 permits per 1,000 residents, 4.8% rent growth, 0.6% jobsFarmington, NM: 0.63 permits per 1,000 residents, 5.2% rent growth, 1.5% jobsQuincy, IL: 0.62 permits per 1,000 residents, 5.4% rent growth, -1.4% jobsPeoria, IL: 0.61 permits per 1,000 residents, 4.7% rent growth, -0.2% jobsSpringfield, MA: 0.60 permits per 1,000 residents, 4.2% rent growth, -0.3% jobsTahlequah, OK: 0.58 permits per 1,000 residents, 13.7% rent growth, 2.0% jobsCortland, NY: 0.56 permits per 1,000 residents, 7.8% rent growth, 3.0% jobsMarion, IN: 0.51 permits per 1,000 residents, 10.0% rent growth, 0.7% jobsFreeport, IL: 0.50 permits per 1,000 residents, 36.9% rent growth, -2.1% jobsJohnstown, PA: 0.47 permits per 1,000 residents, 8.8% rent growth, -1.0% jobsCharleston, WV: 0.46 permits per 1,000 residents, 5.1% rent growth, -0.7% jobsBay City, MI: 0.45 permits per 1,000 residents, 3.5% rent growth, 0.3% jobsSunbury, PA: 0.39 permits per 1,000 residents, 8.1% rent growth, 0.5% jobsOzark, AL: 0.32 permits per 1,000 residents, 6.5% rent growth, 0.2% jobsMeridian, MS: 0.30 permits per 1,000 residents, 7.2% rent growth, -2.4% jobsKingsville, TX: 0.26 permits per 1,000 residents, 9.6% rent growth, 1.4% jobsBluefield, WV: 0.24 permits per 1,000 residents, 9.3% rent growth, -2.3% jobsFairbanks, AK: 0.21 permits per 1,000 residents, 5.7% rent growth, -1.8% jobsMorgantown, WV: 0.20 permits per 1,000 residents, 4.9% rent growth, 1.3% jobsDublin, GA: 0.17 permits per 1,000 residents, 9.1% rent growth, 2.2% jobsMurray, KY: 0.16 permits per 1,000 residents, 5.2% rent growth, -0.2% jobsWeirton, WV: 0.16 permits per 1,000 residents, 8.3% rent growth, 0.1% jobsDanville, IL: 0.14 permits per 1,000 residents, 3.5% rent growth, -2.4% jobsWheeling, WV: 0.06 permits per 1,000 residents, 3.6% rent growth, -0.6% jobsSan Diego, CA: 3.03 permits per 1,000 residents, 1.8% rent growth, 0.3% jobsRiverside, CA: 3.02 permits per 1,000 residents, 2.3% rent growth, 0.5% jobsSierra Vista, AZ: 3.01 permits per 1,000 residents, 2.1% rent growth, -4.0% jobsFlagstaff, AZ: 2.96 permits per 1,000 residents, 1.0% rent growth, -0.9% jobsButte, MT: 2.96 permits per 1,000 residents, 2.2% rent growth, -0.2% jobsCullman, AL: 2.96 permits per 1,000 residents, 2.9% rent growth, -0.1% jobsSanta Cruz, CA: 2.95 permits per 1,000 residents, 3.2% rent growth, 0.7% jobsJackson, TN: 2.91 permits per 1,000 residents, 2.5% rent growth, -0.2% jobsBurlington, VT: 2.90 permits per 1,000 residents, 0.9% rent growth, -0.5% jobsModesto, CA: 2.89 permits per 1,000 residents, 0.6% rent growth, 0.7% jobsGrand Rapids, MI: 2.89 permits per 1,000 residents, 2.9% rent growth, -0.3% jobsMemphis, TN: 2.85 permits per 1,000 residents, 0.7% rent growth, -0.4% jobsAlbertville, AL: 2.83 permits per 1,000 residents, 1.8% rent growth, 0.5% jobsKey West, FL: 2.81 permits per 1,000 residents, 2.8% rent growth, -1.4% jobsBloomington, IN: 2.74 permits per 1,000 residents, 2.7% rent growth, -2.6% jobsWaterloo, IA: 2.72 permits per 1,000 residents, 3.1% rent growth, -2.2% jobsMenomonie, WI: 2.68 permits per 1,000 residents, 2.8% rent growth, 0.0% jobsSedalia, MO: 2.63 permits per 1,000 residents, -1.9% rent growth, 1.1% jobsLake City, FL: 2.62 permits per 1,000 residents, 2.1% rent growth, -1.1% jobsSioux City, IA: 2.60 permits per 1,000 residents, 1.3% rent growth, -1.0% jobsAmes, IA: 2.58 permits per 1,000 residents, 2.7% rent growth, -2.0% jobsEl Paso, TX: 2.55 permits per 1,000 residents, 2.5% rent growth, 0.6% jobsLebanon, PA: 2.55 permits per 1,000 residents, 2.6% rent growth, 1.4% jobsTrenton, NJ: 2.54 permits per 1,000 residents, 2.3% rent growth, -0.1% jobsTyler, TX: 2.51 permits per 1,000 residents, 0.9% rent growth, 1.5% jobsLumberton, NC: 2.50 permits per 1,000 residents, -0.7% rent growth, -1.7% jobsHermiston, OR: 2.47 permits per 1,000 residents, 2.2% rent growth, 0.9% jobsSanta Rosa, CA: 2.43 permits per 1,000 residents, 3.2% rent growth, 0.5% jobsBeaumont, TX: 2.36 permits per 1,000 residents, 2.4% rent growth, 0.3% jobsEureka, CA: 2.35 permits per 1,000 residents, 2.7% rent growth, -0.7% jobsCañon City, CO: 2.34 permits per 1,000 residents, 0.7% rent growth, -1.4% jobsDecatur, AL: 2.33 permits per 1,000 residents, 2.3% rent growth, 1.0% jobsPayson, AZ: 2.31 permits per 1,000 residents, 3.1% rent growth, 0.6% jobsWilliston, ND: 2.28 permits per 1,000 residents, -3.3% rent growth, -1.2% jobsLongview, WA: 2.28 permits per 1,000 residents, 1.1% rent growth, 0.1% jobsHenderson, NC: 2.27 permits per 1,000 residents, -0.5% rent growth, -0.2% jobsAthens, TX: 2.26 permits per 1,000 residents, -2.3% rent growth, 1.8% jobsLaramie, WY: 2.25 permits per 1,000 residents, 1.8% rent growth, -0.5% jobsGrand Island, NE: 2.19 permits per 1,000 residents, 0.7% rent growth, -0.3% jobsWorcester, MA: 2.13 permits per 1,000 residents, 2.1% rent growth, 0.0% jobsMacon, GA: 2.12 permits per 1,000 residents, 2.3% rent growth, 0.5% jobsSanta Fe, NM: 2.09 permits per 1,000 residents, 1.7% rent growth, 0.4% jobsKlamath Falls, OR: 2.05 permits per 1,000 residents, 1.4% rent growth, 0.1% jobsDickinson, ND: 2.03 permits per 1,000 residents, -1.0% rent growth, 1.6% jobsThe Dalles, OR: 2.03 permits per 1,000 residents, 1.5% rent growth, 1.1% jobsColumbus, MS: 2.03 permits per 1,000 residents, 3.1% rent growth, -0.9% jobsNew Orleans, LA: 2.02 permits per 1,000 residents, 0.7% rent growth, -0.9% jobsAlexandria, LA: 2.02 permits per 1,000 residents, 1.0% rent growth, -0.1% jobsBridgeport, CT: 2.02 permits per 1,000 residents, 2.9% rent growth, 0.4% jobsTalladega, AL: 1.97 permits per 1,000 residents, 3.1% rent growth, -0.6% jobsBaltimore, MD: 1.94 permits per 1,000 residents, 2.4% rent growth, -1.2% jobsOxnard, CA: 1.92 permits per 1,000 residents, 1.1% rent growth, -0.3% jobsVallejo, CA: 1.88 permits per 1,000 residents, 0.7% rent growth, 0.5% jobsAlbany, OR: 1.85 permits per 1,000 residents, 1.2% rent growth, -1.4% jobsSpringfield, OH: 1.76 permits per 1,000 residents, 3.2% rent growth, -1.7% jobsGrants Pass, OR: 1.72 permits per 1,000 residents, -1.6% rent growth, -0.8% jobsCasper, WY: 1.68 permits per 1,000 residents, 0.6% rent growth, -1.0% jobsManchester, NH: 1.66 permits per 1,000 residents, 3.1% rent growth, -1.3% jobsEugene, OR: 1.66 permits per 1,000 residents, 3.2% rent growth, -1.3% jobsDel Rio, TX: 1.63 permits per 1,000 residents, -7.4% rent growth, -1.1% jobsBartlesville, OK: 1.61 permits per 1,000 residents, -3.1% rent growth, -0.1% jobsShawnee, OK: 1.61 permits per 1,000 residents, 3.0% rent growth, -0.5% jobsAstoria, OR: 1.60 permits per 1,000 residents, 3.0% rent growth, 0.8% jobsWarrensburg, MO: 1.57 permits per 1,000 residents, 2.9% rent growth, 0.6% jobsMerced, CA: 1.51 permits per 1,000 residents, 2.2% rent growth, 3.5% jobsNew Haven, CT: 1.47 permits per 1,000 residents, 2.7% rent growth, -0.1% jobsOrangeburg, SC: 1.42 permits per 1,000 residents, 0.9% rent growth, -0.2% jobsSheboygan, WI: 1.42 permits per 1,000 residents, 3.0% rent growth, -0.3% jobsFremont, NE: 1.39 permits per 1,000 residents, 0.4% rent growth, 1.1% jobsHartford, CT: 1.33 permits per 1,000 residents, 3.1% rent growth, 0.3% jobsRochester, NY: 1.32 permits per 1,000 residents, 3.2% rent growth, 0.4% jobsParkersburg, WV: 1.31 permits per 1,000 residents, 3.3% rent growth, -1.5% jobsTupelo, MS: 1.30 permits per 1,000 residents, 2.7% rent growth, -0.9% jobsBarnstable Town, MA: 1.27 permits per 1,000 residents, 3.0% rent growth, 2.5% jobsNew Castle, IN: 1.18 permits per 1,000 residents, 1.4% rent growth, 1.2% jobsPittsfield, MA: 1.17 permits per 1,000 residents, 2.9% rent growth, -0.3% jobsLongview, TX: 1.11 permits per 1,000 residents, 0.5% rent growth, 0.2% jobsBuffalo, NY: 1.11 permits per 1,000 residents, 3.2% rent growth, 0.6% jobsSebastian, FL: 1.05 permits per 1,000 residents, 1.8% rent growth, -1.0% jobsCorning, NY: 1.04 permits per 1,000 residents, -0.4% rent growth, 0.0% jobsRedding, CA: 1.04 permits per 1,000 residents, 3.3% rent growth, 2.1% jobsVineland, NJ: 1.03 permits per 1,000 residents, 2.7% rent growth, -0.9% jobsTorrington, CT: 1.02 permits per 1,000 residents, 1.5% rent growth, -2.5% jobsJamestown, ND: 0.93 permits per 1,000 residents, 0.9% rent growth, 1.5% jobsCape Girardeau, MO: 0.86 permits per 1,000 residents, 2.7% rent growth, 0.2% jobsMarshalltown, IA: 0.80 permits per 1,000 residents, 0.8% rent growth, 0.8% jobsGillette, WY: 0.80 permits per 1,000 residents, 2.9% rent growth, -1.4% jobsClarksburg, WV: 0.76 permits per 1,000 residents, 0.6% rent growth, 0.1% jobsBeckley, WV: 0.76 permits per 1,000 residents, 1.2% rent growth, -0.7% jobsUkiah, CA: 0.73 permits per 1,000 residents, 1.4% rent growth, 0.4% jobsVictoria, TX: 0.71 permits per 1,000 residents, 2.3% rent growth, 0.4% jobsKirksville, MO: 0.68 permits per 1,000 residents, -0.6% rent growth, -0.7% jobsRock Springs, WY: 0.67 permits per 1,000 residents, -3.4% rent growth, -2.3% jobsNacogdoches, TX: 0.49 permits per 1,000 residents, 2.5% rent growth, -2.6% jobsErie, PA: 0.48 permits per 1,000 residents, 3.2% rent growth, 0.1% jobsPueblo, CO: 0.41 permits per 1,000 residents, 1.6% rent growth, -0.9% jobsSt. Joseph, MO: 0.38 permits per 1,000 residents, 0.9% rent growth, 1.0% jobsRiverton, WY: 0.35 permits per 1,000 residents, 2.7% rent growth, -2.2% jobsDecatur, IL: 0.31 permits per 1,000 residents, -0.2% rent growth, -0.5% jobsStephenville, TX: 0.23 permits per 1,000 residents, -0.5% rent growth, 4.4% jobsFairmont, WV: 0.07 permits per 1,000 residents, 3.3% rent growth, -1.2% jobsAlamogordo, NM: 0.06 permits per 1,000 residents, 0.9% rent growth, -0.8% jobsEnid, OK: 0.03 permits per 1,000 residents, 2.4% rent growth, -0.6% jobsJeffersonWilmingtonPunta GordaDurhamMyrtle BeachPermitted housing units per 1,000 residents →Zillow asking-rent change →
Permits are authorizations, not completed rental units. Redfin for-sale liquidity and employment stay in the table as separate context; no pressure score is created.
What the current contract says

Read the distribution before the example

542 metros meet the supply study contract. 103 combine higher permitting with stronger rent direction, while 168 combine higher permitting with slower rent direction. Jefferson, GA has the highest permitting intensity in the current table.

Markets compared542complete permit and rent facts
Median permits3.0per 1,000 residents
Median rent YoY3.3%current Zillow period
Median months supply3.4Redfin for-sale context
Open Jefferson, GA
01
Understand the pipeline

A building permit is evidence of intent, not a delivered apartment

Permit counts can signal developer confidence and future capacity, but projects may be delayed, changed or never completed. The measure also includes housing types that may not compete directly with the target rental. Per-resident scaling improves comparison across markets without resolving those project-level differences.

The useful interpretation is directional. Sustained permitting deserves a closer look at units under construction, expected completion dates and the neighborhoods receiving supply. A quiet permit series deserves a check for local reporting coverage and existing excess inventory before it is called constrained.

02
Observe the market

Listings and price reductions describe competition that already exists

Months of supply and median days on market come from the for-sale side, so they do not directly measure apartment vacancy. They still help describe the housing market around acquisition values and household choice. Price reductions can show sellers adjusting before a broad home-value index fully reflects the change.

For rental underwriting, current unit listings, concessions and property-manager reports remain essential. A market can add housing while a specific bedroom class stays tight, or show soft for-sale conditions while rentals remain resilient. Geography and property type decide how much a broad signal matters.

03
Read the quadrants

High supply and high rent growth is not automatically contradictory

Rapid rent growth can attract construction, so both signals may rise during an expansion. The question is whether demand can absorb deliveries without a material increase in vacancy or concessions. Employment, population and migration help test that capacity, but none guarantees absorption in the target submarket.

Low permitting and weak rent growth can reflect limited demand rather than scarcity. High permitting and weak rent growth may reveal a market already adjusting to supply, while low permitting and strong rent growth may indicate constraint. Each quadrant produces a different diligence list instead of a universal ranking.

04
Map the competition

The property competes with nearby units, not the metro average

A new luxury tower and an older small rental may serve different tenants, but concessions at the top of the market can still cascade. Identify planned and recently delivered units within the realistic search area, then compare bedroom mix, finishes, parking, utilities and effective rent after incentives.

The downside case should include a slower lease-up, renewal resistance and a concession if supply is expanding. If the pipeline appears limited, do not assume unlimited rent growth; household income, regulation and affordability still constrain the market. Supply improves the question, not the certainty.

Decision workflow

Follow supply from intention to competition

  1. 1
    Scale the pipeline

    Compare permits relative to population and keep housing type visible.

  2. 2
    Check delivery

    Find projects under construction and expected completion timing.

  3. 3
    Measure response

    Inspect listings, concessions, market time and price reductions.

  4. 4
    Map the submarket

    Identify the units that actually compete with the target property.

Questions readers ask

Keep the boundary of the evidence visible

These answers are part of the article and the structured data. They state what the current sources can support—and where property-level evidence must take over.

Do more permits always mean rents will fall?

No. Strong demand can absorb new supply, and permits may not become completed competing units. They identify a pipeline that deserves local verification.

Can for-sale inventory measure rental vacancy?

No. It describes a related but different market. Rental listings, concessions and property-level vacancy are needed for a direct leasing judgment.

Is low permitting always good for landlords?

No. It may reflect constraint, but it can also reflect weak population and investment demand. Labor, migration and current rent direction provide necessary context.

Continue with the evidence

Find the markets where supply changes the story

Open the complete pressure study to inspect current quadrants and counter-signals, then verify deliveries around the property’s real competitive area.

Open Opportunity Matrix Open full research
Source ledger

The releases behind the examples

Every market figure above is rebuilt from these current public-source releases.

acs populationCensus ACS 5-year — populationACS 2024 5-year · retrieved 2026-07-26bls cesBLS CES — payroll employmentCES SM current · retrieved 2026-07-26bls lausBLS LAUS — resident employmentLAUS current · retrieved 2026-07-26census bpsCensus Building Permits Survey — permitted unitsBPS through 2026 · retrieved 2026-07-26redfinRedfin Data Center — inventory, days on market, and price cutsmetro tracker through 2026-05-01 · retrieved 2026-07-26zillow zhviZillow ZHVI — metro home valuesMetro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv · retrieved 2026-07-26zillow zoriZillow ZORI — metro market rentsMetro_zori_uc_sfrcondomfr_sm_sa_month.csv · retrieved 2026-07-26