For years, it’s felt as if rent has gotten out of control. And that’s partially true, considering median rent prices are more than 21% higher today than they were in 2019. But rents are starting to drop ever so slightly.
Asking rents dipped just 0.4% year-over-year in June, but before you get too excited, the median asking rent is still $305 higher than the same time in 2019 before the pandemic, according to Realtor.com’s June 2024 Rental Report. The median asking rent in June was $1,743.
