Realtor.com® Rent Report: U.S. Median Rents Hit Four-Year Low as Market Records 30th Consecutive Month of Decline
News Corporation - Class A (NWSA)
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Source: PR Newswire
National median asking monthly rent falls to $1,667; 15 major markets now see rents more than 10% below pandemic-era peaksAUSTIN, Texas, March 17, 2026 /PRNewswire/ -- The U.S. rental market has reached its most budget-friendly level in four years. According to the Realtor.com® February Rental Report, February marked the 30th consecutive month of year-over-year declines for 0-2 bedroom properties, bringing the national median asking monthly rent to $1,667, the lowest level recorded since March 2022.The national median rent fell $29, or 1.7%, compared to one year ago. While monthly rents remain $207 (14.2%) higher than pre-pandemic levels recorded in February 2020, they have now retreated $90 (5.1%) from the summer 2022 peak."The persistent softness we're seeing is increasingly translating into real savings for renters who, for a long time, felt the market was out of reach," said Danielle Hale, chief economist at Realtor.com®. "This four-year low is a result of a prolonged downward tr
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