Brighton Rental Market Analysis

The Brighton rental market in 2024 exhibited dynamic shifts in leasing activity, rental pricing, and market competitiveness. While some months showed strong demand and quick leasing times, others offered more opportunities for renters to negotiate better terms.

As we transition into 2025, analyzing these trends will help landlords and tenants make informed decisions. Let’s explore the 2024 rental market performance and what to expect in the coming year.

2024 Brighton Rental Market Performance

Rental Activity & Market Trends

• Highest Number of Rentals Closed: August 2024 (95 rentals)
• Lowest Number of Rentals Closed: February 2024 (19 rentals)

The number of rentals closed varied significantly throughout the year, with peak activity occurring in late summer, while early-year months saw lower leasing activity.

🔹 Average Days on Market (DOM) ranged from 24 to 34 days, with April having the shortest leasing time and February seeing the longest.

🔹 Median Rent fluctuated, with noticeable peaks in April and December.

Quarterly Breakdown

Q1 2024 (Jan-Mar):

• January: 23 rentals closed, median rent $2,024, 32 DOM
• February: 19 rentals closed, median rent $2,992, 34 DOM
• March: 34 rentals closed, median rent $2,024, 29 DOM

Q2 2024 (Apr-Jun):

• April: 33 rentals closed, median rent $29,625, 24 DOM
• May: 63 rentals closed, median rent $2,024, 26 DOM
• June: Data not available

Market Insights:

• Spring and summer were the most competitive leasing periods, with rental demand increasing as students and professionals relocated.
• Winter months provided more negotiating power for tenants, with landlords more open to incentives and price reductions.

Will 2025 Be a Renter’s or Landlord’s Market?

Early 2025 will continue favoring renters, with ample inventory and stable rental prices. However, by mid-to-late 2025, landlords could gain leverage as leasing demand increases.

🔹 Best Time for Renters: January – April 2025, when rental prices are lower, and landlords may offer better deals. 🔹 Best Time for Landlords: May – September 2025, when higher demand allows for more competitive pricing.

Key Takeaways

📌 For Renters:

• Early-year leasing offers better deals and more negotiating power.
• Consider signing longer-term leases before summer demand rises.

📌 For Landlords:

• The best listing periods are spring and summer when demand is highest.
• Competitive pricing and updated units will attract quality tenants.

Are you thinking about renting or leasing in 2025? Contact me for a customized rental market analysis and expert guidance! If you are unsure what your best move is, check out my Sales Market Analysis or follow me on Instagram, where every Monday, I post how the sales market is doing in different areas, and on Tuesday, I post how the rental market is performing. You can also find these weekly reports on Facebook and YouTube to stay informed and decide what works for you.