rental market

The rental market refers to the supply and demand for residential properties available for lease. Factors such as location, economic conditions, interest rates, and housing availability influence rental prices and availability. When demand exceeds supply, rents tend to rise; conversely, an abundance of rental units can cause prices to fall. Rental agreements typically specify the lease duration, monthly payments, and responsibilities of tenants and landlords. Market trends are affected by broader economic shifts, employment rates, and migration patterns, shaping both the affordability and accessibility of rental housing for individuals and families.