Nationally, rents declined annually in December for the eighth straight month, according to Realtor.com’s monthly report. The median asking rent was $1,713, which was down $4 from November and down $63 from the July 2022 peak.
However, median rent is still $309 higher than the same time in 2019, before the pandemic. That’s a 22% increase.
And people have been feeling it. In some places, rents aren’t dropping at all. Rent is just increasing at a slower pace.
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