Number of residential real estate leases in the U.S. 2017-2023 with forecast by 2028

Published by Statista Research Department, Jan 10, 2024

The number of residential real estate leases in the United States increased in 2023 and was forecast to continue to rise in the next five years. By 2028, the number of lease agreements for the rental of houses, apartments or condos is projected to reach 46.9 million, up from 46.39 million in 2023.

Number of existing residential real estate leases in the United States from 2017 to 2023, with a forecast by 2028 (in millions)

Characteristic	Number of leases in millions
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Supplementary notes

Data provided by Statista Market Insights are estimates.

* forecast value

Definition:

The residential real estate leases market refers to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums. The lease outlines the terms of the rental agreement, including the duration of the lease, the amount of rent to be paid, and the responsibilities of both the landlord and the tenant. The lease may also include provisions for security deposits, maintenance and repair obligations, and renewal options.

Additional information:

The KPIs covered in this market are the real estate transactions revenue and the average revenue transaction value.

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