Rent.com just released its June report, and it shows after nearly two years of rising rents, the national medial price was less in May than it was a year ago. That’s the first time rent prices went down since March 2020, when the coronavirus was declared a pandemic.
The median U.S. asking rent fell 0.6% year over year to $1,995 in May. That compares with a near-record 16.5% increase one year earlier.
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