Renting and Buying for Real People — 2026-09-17

Top developments

UK Rents Forecast to Rise 4-5% by Year-End

Property website Zoopla predicts that UK rents will increase by between 4% and 5% by December 2026. This acceleration is driven by a significant fall in rental supply and higher mortgage rates that continue to keep first-time buyers out of the purchase market. The forecast highlights a "gloomy" outlook for tenants, with upward pressure on rents greatest in London.

Chicago Mayor Drops Relocation Payments from Renters Bill

On September 15, 2026, Chicago Mayor Brandon Johnson removed just-cause protections and relocation payments from his "Protecting Renters Ordinance." This move comes as a rival proposal, the FAIR ordinance led by Ald. Gilbert Villegas, gains steam in separate committee hearings. The change marks a strategic pivot in how tenant protections are being legislated in major US cities, with advocates now focusing on different mechanisms for eviction defense.

US Mortgage Rates Remain Elevated at ~6.6%

As of September 16, 2026, mortgage rates in the US remain high, hovering near 6.6%. This sustained elevation is keeping many prospective buyers on the sidelines, effectively extending their rental tenure. For households, this means the "rent vs. buy" calculation remains skewed toward renting in many markets, as the cost of borrowing continues to outpace wage growth in many regions.

1 sources

money.com

money.com

South Korea Repeals Housing Requirements for Youth Rent Support

The South Korean government has fully repealed the residency requirements (previously capped at 50 million won deposit and 700,000 won monthly rent) for the second phase of its special youth rent support program. This expansion allows more young adults to qualify for the monthly 200,000 won subsidy, provided they meet income and asset criteria. The move aims to broaden access to housing support for independent youth households.

Local view

Chicago, USA: Local media reports a contentious split in tenant advocacy. While Mayor Johnson’s initial ordinance included relocation payments, the drop of these provisions has drawn mixed reactions. Former Mayor David Orr, writing in the Chicago Tribune on September 16, supports the push for the "Protecting Renters Ordinance" as a tool against gentrification, even as the bill’s specifics evolve.

London, UK: The Standard notes that Zoopla attributes the expected rental price acceleration to a specific shortage of available properties entering the market, which has lagged behind 2025 levels. This local supply crunch is exacerbating the national trend of rising rents.

Context & numbers

• US Median Rents (August 2026):
  • National Median Rent (All types): $1,390/month
  • National Median 1-Bedroom Rent: $1,545 (down 0.3% MoM)
  • Zumper Index: 1-Bedroom at $1,515; 2-Bedroom at $1,907
• UK Rental Outlook: Zoopla forecasts 4-5% annual growth through December 2026.
• Mortgage Rates: US rates are near 6.6%; UK first-time buyer schemes like the Mortgage Guarantee Scheme continue to offer 95% LTV options, though affordability remains strained by these higher base rates.

On the radar

• Chicago Committee Hearings: Watch for separate committee hearings on the Mayor’s revised "Protecting Renters Ordinance" and Ald. Villegas’ competing "FAIR ordinance" in the coming weeks.
• UK Renters’ Rights Act Phase 2: Landlords and tenants should monitor the ongoing implementation timeline of the Renters’ Rights Act, particularly regarding the abolition of Section 21 evictions, which began in May 2026 but faces continued operational adjustments.
• South Korea Youth Loan Extensions: Guidance on extending SME youth jeonse loans for those over age 34 is being updated; applicants should check for new exception rules and interest rate adjustments.