Realtor.com® June Rental Report: Despite Another Month of Declining Rents, U.S. Renters Still Pay $300 More Than Pre-Pandemic

July 19, 2024

https://www.prnewswire.com/news-releases/realtorcom-june-rental-report-despite-another-month-of-declining-rents-us-renters-still-pay-300-more-than-pre-pandemic-302200206.html

Median asking rent fell -0.4% in June, with declines seen across all unit sizes amid mixed regional conditions

SANTA CLARA, Calif., July 18, 2024 /PRNewswire/ — Rents fell again in June, with especially large declines in the South, where there’s been an influx of new rental units, according to the Realtor.com® Rental Report released today. The median asking rent for 0-2 bedroom units fell -0.4% ($7) from last June to $1,743, marking the 11th straight month of declines and -0.6% ($11) below its August 2022 peak. Still, some markets have seen rents surge by as much as 40% compared to 2019’s pre-pandemic levels, with Tampa, Fla., seeing the largest increase over the past five years.

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