According to Zumper’s November rent report, rent prices are steadily declining across much of the United States.
There is a leveling off of rent prices in metros
What is this happening?
- In many parts of the country, rental prices are falling due to recession fears and diminished occupancy.
- Trends of the pandemic era are dissipating, particularly in areas where work-from-home policies welcomed large numbers of new residents. There is a noticeable reversal across Arizona in particular.
- With New York still the most expensive city in the country, Boston and San Francisco are tied for second.