While median asking rents have dropped 0.4% in June, with declines across all unit sizes amid mixed regional conditions, renters are still under significant pressure.
While rent growth may be easing, the financial pain renters are feeling has far from subsided. Renters are still paying $300 more for housing than they did compared with pre-pandemic levels, according to a new Realtor.com report. The nationwide median asking rent for studio to two-bedroom apartments fell 0.4% year over year in June to $1,743, according to Realtor.com's latest rent data. June marked the 11th straight month of declines. It was also down 0.
While rents have steadily fallen for almost a year, it hasn't given much relief to those who have seen such costs rise "significantly" since before the pandemic, according to Realtor.com chief economist Danielle Hale said.
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