Rents have soared over the past few years, especially between 2021 and 2023 when COVID lockdowns lifted. During that time, rental demand surged, but the supply of available properties couldn't keep up. That pushed the national median asking rent from around $1,350 to $1,700, a jump of nearly 26%, according to Redfin data.
Now, after years of steep increases, will 2025 finally give renters a break?
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