U.S. landlords collected an estimated $428 billion in total rent in 2024. At the same time, late payments, manual reconciliation, and disconnected financial records remain common parts of rental operations. Digital rent collection can automate recurring invoices and reminders, give tenants multiple payment options, and create a record of payment activity.

The statistics below cover the size of the rental market, online payment adoption, renter payment pressure, housing affordability, operating costs, and technology use. Figures from government surveys, industry surveys, and market datasets are identified by source and should be interpreted within the scope of each dataset.

Key takeaways

• Rent payment pressure increased: The Federal Reserve found that 23% of renters had been behind on rent at some point in 2025, up from 21% in 2024.
• Lower-income renters faced the greatest difficulty: In the same Federal Reserve survey, 33% of renters with family income below $25,000 reported falling behind, compared with 5% of renters earning at least $100,000.
• Housing affordability remained strained: Harvard's Joint Center for Housing Studies estimated that 22.7 million renter households, or 49% of renters, were cost-burdened in 2024.
• Online payment preferences exceeded actual use: Zillow found that 69% of recent renters preferred to pay rent online, compared with 60% who reported doing so.
• Property owners use multiple collection methods: Baselane's survey found that 27% used online property management platforms, while respondents also reported accepting P2P apps, ACH or direct deposit, checks, and cash.
• Technology adoption was widespread among surveyed property managers: The National Apartment Association figure cited by Baselane found that 93% had adopted at least one form of property management technology within the previous 18 months.

The scale of the rental market

The U.S. rental market includes millions of property owners and hundreds of billions of dollars in annual rent. These figures show why consistent collection processes and property- and entity-level records matter across different portfolio sizes.

1. U.S. landlords collected $428 billion in total rent in 2024

iPropertyManagement estimates that U.S. landlords collected $428 billion in rent in 2024. At that scale, even short payment delays can affect the timing of mortgage payments, property expenses, reserves, and other recurring obligations.

2. An estimated 9.72 million Americans owned rental property

iPropertyManagement estimates that 9.72 million tax-paying Americans owned rental property in 2024. Collectively, they owned 18.2 million rental units, or 1.89 units per owner. The figures indicate that a large share of rental ownership consists of relatively small portfolios rather than institutional-scale operations.

3. The median monthly rent payment was $1,200 in 2025

The Federal Reserve's Survey of Household Economics and Decisionmaking found that the median monthly rent payment was $1,200 in 2025 among renters who reported a positive monthly payment. Renters who had moved in 2024 or 2025 reported a higher median of $1,300.

The figures are based on renter-reported payments rather than transaction records. Even so, they show the amount commonly tied to a monthly due date and why payment timing can affect a landlord's ability to meet recurring property expenses.

4. Median gross rent reached $1,487 in the 2024 ACS

The U.S. Census Bureau's 2024 American Community Survey estimated a national median gross rent of $1,487 for renter-occupied housing units paying cash rent. Gross rent combines contract rent with estimated tenant-paid utilities and fuels, so it is broader than the rent-payment measure reported by the Federal Reserve.

The distinction matters when landlords compare rent collected with the total housing costs renters experience. Utility arrangements, property type, and local prices can all affect the gap between contract rent and gross rent.

Online rent collection adoption

Digital payment systems can combine invoices, reminders, payment records, and deposit tracking. Adoption statistics should still be interpreted according to the renters or property owners included in each source.

5. 27% of surveyed property owners used online property management platforms

In Baselane's 2025 survey of 415 U.S. rental property owners, 27% reported using online property platforms for rent collection. Respondents could select multiple methods. The same survey found that 49% used P2P payment apps, 45% used ACH or direct deposit, 56% accepted checks, and 53% accepted cash.

Because the percentages overlap, the survey is better read as evidence that many landlords and real estate investors maintain several payment channels rather than relying on one universal method.

6. 69% of recent renters would prefer to pay rent online

Zillow's Consumer Housing Trends Report found that 69% of recent renters would ideally pay rent online, while 60% reported typically doing so. Zillow defines recent renters as household decision-makers who moved within the previous year.

The 9% point gap suggests that access to online payments had not fully caught up with renter preferences in the survey period. It does not show that online payment is the preferred option for every tenant.

Rent payment pressure

National survey data can show how many renters experience payment difficulty, but it does not establish that one payment method causes or prevents late rent. Income, household expenses, lease terms, and local economic conditions also affect payment timing.

7. 23% of renters had been behind on rent during 2025

The Federal Reserve found that 23% of renters reported being behind on rent at some point during 2025. That was up from 21% in 2024 and 17% in 2021.

This is a renter-reported annual measure, not the percentage of rent payments that were late in a particular month. It captures whether a renter experienced payment difficulty at any point during the year.

8. 33% of renters earning under $25,000 had fallen behind

In the same Federal Reserve survey, 33% of renters with family income below $25,000 reported being behind on rent at some point in 2025. The share was 31% for renters earning $25,000 to $49,999, 17% for those earning $50,000 to $99,999, and 5% for those earning at least $100,000.

The income gradient shows that payment pressure is closely connected to household finances. Automated invoices and reminders can simplify the collection process, but they do not remove affordability constraints.

9. 2% of renters moved because of eviction or the threat of eviction

The Federal Reserve reported that 2% of renters had moved during the prior year because of eviction or the threat of eviction. These renters represented 16% of renters who moved during 2025.

Eviction can occur for different reasons, including nonpayment, and the survey does not attribute every move to late rent. The statistic nevertheless shows why clear payment records and consistent tenant communication are important parts of rental operations.

Rental affordability and market differences

Payment outcomes are shaped by the relationship between rent, utilities, household income, and local market conditions. These benchmarks provide context for the financial pressure that may sit behind delayed or missed payments.

10. 22.7 million renter households were cost burdened in 2024

Harvard's Joint Center for Housing Studies estimated that 22.7 million renter households, or 49% of all renters, spent more than 30% of their income on housing in 2024. The total reached a record high for the fourth consecutive year.

Cost burden is an affordability measure rather than a rent-payment measure. It helps explain why even renters who ultimately pay in full may have limited room for unexpected expenses or changes in income.

11. Renter housing costs rose 38% while incomes rose 28%

Between 2019 and 2024, renters' median housing costs increased by 38%, while renter incomes increased by 28%, according to the Joint Center for Housing Studies.

The 10% point difference does not mean every renter experienced the same change. It indicates that, at the national median, housing costs grew faster than income over the period.

12. 49% of middle-income renters were cost-burdened

In 2024, 49% of renter households earning $45,000 to $74,999 were cost-burdened. That share increased by 2.1% points from 2023 and by 9.5 percentage points from 2019.

The increase shows that affordability pressure extended beyond the lowest income bands. Landlords should still evaluate payment patterns at the property and tenant level rather than applying national averages to an individual lease.

13. Median gross rent increased in 626 counties

Comparing the 2015-2019 and 2020-2024 American Community Survey five-year periods, the Census Bureau found that median gross rent increased in 626 counties and decreased in 330 counties. The estimates were adjusted for inflation.

The county results show that rent trends were not uniform. Local supply, demand, utility costs, and household incomes can produce materially different collection conditions across markets.

14. Median monthly rent ranged from $915 to $1,450 by region

In the Federal Reserve's 2025 survey, the median monthly rent payment was $1,450 in the West, $1,375 in the Northeast, $1,100 in the South, and $915 in the Midwest. The figures cover renters who reported a positive monthly payment.

Regional medians provide a broad benchmark, but they do not account for differences within a region, such as city, property type, unit size, lease date, or included utilities.

The financial impact of collection efficiency

Rent collection is one part of a larger rental finance workflow. Vacancy, operating costs, bookkeeping, financing, and payment processing all affect how collected rent translates into property cash flow.

15. Tenant turnover was estimated at $1,795 per month per unit

iPropertyManagement reports that tenant turnover costs, which can include lost rent and re-leasing expenses, total an estimated $1,795 per month per unit for landlords. The source does not itemize which components are included in that figure, so it should be treated as a broad benchmark rather than a precise estimate of vacancy loss, legal expense, administrative work, repairs, or marketing for a specific property.

Rent collection alone does not determine tenant retention or turnover costs. Clear payment records can, however, help distinguish collection activity from other expenses incurred when a unit changes occupants.

16. An estimated 36% of collected rent represented profit

iPropertyManagement estimates that 36% of collected rent represents profit after expenses. The percentage can vary substantially by property, financing structure, taxes, insurance, vacancy, utilities, maintenance, and capital expenditures.

A portfolio-wide percentage is therefore not a substitute for property- and entity-level reporting. Investors need records that separate rent collected from the expenses attached to each rental operation.

17. 82% of surveyed property owners reported higher ownership costs

In Baselane's 2025 survey, 82% of respondents said their rental property ownership costs increased in 2024, and 26% reported increases greater than 20%. Respondents most frequently identified higher property taxes, maintenance and repair costs, utilities, and insurance premiums.

When costs rise across several properties or entities, separate bank logins and disconnected apps can spread cash-flow information across multiple systems. Baselane centralizes property- and entity-level banking, bookkeeping, and rent collection so related transactions and reports can be reviewed in one platform.

Technology and rent collection operations

Technology does not remove every collection challenge. Its role is to automate defined tasks, create payment records, and connect rent activity with the financial workflow surrounding each property and entity.

18. 93% of property managers adopted at least one technology

According to the National Apartment Association figure cited in Baselane's rental market survey, 93% of property managers had adopted at least one form of property management technology within the previous 18 months. The most common recent applications included social media marketing and tenant portals used for functions such as online payments and maintenance requests.

The statistic measures adoption of at least one technology, not the use of a fully integrated system. A property manager may still rely on separate products for operations, rent collection, banking, and bookkeeping.

19. 8% of renters had rent payments reported to a credit bureau

The Federal Reserve found that 8% of renters had their rent payments reported to at least one of the three national credit bureaus in 2025. Rent reporting remained uncommon even as more services began offering it.

Rent reporting and rent collection are separate functions. For landlords, the operational priority remains maintaining accurate invoices, payment histories, tenant ledgers, and records that can be reviewed by property and entity.

Integrating rent collection with rental finances

Standalone payment tools can collect rent, but property owners still need to reconcile deposits, categorize income and expenses, and prepare reports by property and entity. Baselane is a banking and bookkeeping platform for multi-property real estate investors and operators that can work alongside property management tools. Its rent collection connects invoices, reminders, payments, tenant ledgers, and rent rolls with the corresponding financial records.

Property-specific banking organizes funds

Baselane banking allows investors to open unlimited checking and savings accounts to separate funds across properties and entities. Baselane Banking has no monthly account maintenance fees or minimum balance requirements. Funds deposited through Baselane Banking are eligible for FDIC insurance through Thread Bank, Member FDIC.¹ Monthly account maintenance fees are separate from transaction and service fees. Current fee and feature details are listed on the pricing page.

Automated bookkeeping organizes transactions

Baselane bookkeeping supports property- and entity-level income and expense tracking. Baselane also adds automatic transaction tagging to properties and 120+ real-estate-specific categories, along with advanced rules based on recipient, amount, or account.

Integrated reports support financial review

Baselane can generate transaction ledgers, receipt records, income statements, and Schedule E reports for properties and entities. Connecting rent collection, banking, and bookkeeping creates a consolidated set of records that can be exported for an accountant or used when preparing rental property financial documents. Baselane is not a full-service property management system; it functions primarily as the banking and bookkeeping layer and can work alongside tools used for listings, maintenance, and other property operations.