market rent

noun

1. (in Britain) the rent chargeable for accommodation, allowing for the scarcity of that kind of property and the willingness of tenants to pay

Example Sentences

Recent figures showed the average local market rent was £2,068 a month in the first quarter of 2025 - 1.5% higher than the previous quarter, 8.2% higher than the first quarter of 2024 and 51.7% higher than five years ago.

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"Those owning outright and those whose rents are fully met by income support are in better position than those who have bought recently or who are paying a market rent," the report stated.

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For new listings, on average landlords and rental agents are charging renters 315% of the Fair Market Rent, which is nearly double the legal limit.

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Fair market rent for a one-bedroom apartment was $490 in 1985, when the city adopted the current formula.

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That’s still lower than current market rent of about $2,000 a month.

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