Realtor.com® June Rental Report: Rent Prices Continue Downward Trend
SANTA CLARA, Calif., July 25, 2023 /PRNewswire/ -- The Realtor.com®June Rental Report found that relief for renters continues, as rent prices dropped even further, down 1.0% year over year. While the median asking rent in the 50 largest metros increased to $1,745, up by $7 from last month, it was down $31 from its July 2022 peak.
- Rental units include apartments as well as private rentals (condos, townhomes, single-family homes).
- We use rental sources that reliably report data each month within the top 50 largest metropolitan areas.
- Realtor.com® began publishing regular monthly rental trends reports in October 2020 with data history stretching back to March 2019.
- With the release of its June rent report, Realtor.com® incorporated a new and improved methodology for capturing and reporting more comprehensive rental listing trends and metrics.