The median rent for a studio to two-bedroom home in the 50 largest metropolitan areas just reached the highest point in Realtor.com's history.
U.S. rents continue to rise. The bright side, maybe, is that they’re not rising quite as fast as they once were, according to a new report from Realtor.com.
However,... U.S. rents continue to rise. The bright side, maybe, is that they’re not rising quite as fast as they once were, according to a new report from Realtor.com. However, despite median rental prices reaching new records for 15 consecutive months now, May’s annual rental growth rate was actually the slowest Realtor.com has seen since September 2021. And the $2,000-a-month nationwide median rent Realtor.com previously forecast for August might now hold off until October if prices keep growing at the same rate. If rents continue to slow even more, $2,000 rent may not be a reality until 2023.
— Realtor.com chief economist Danielle Hale “There’s no question that renters are facing sky-high prices. And with rising inflation reflecting price jumps for both rents and everyday expenses, many renters are feeling the strain on their finances,” Realtor.com chief economist Danielle Hale said in a statement. “Still, our May data suggests that the rent surge is beginning to lose some steam, in part because incomes can’t keep up, even in the strong job market.
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