Living
US Rent Growth Slows With Affordability Crunch Squeezing Tenants
Renters are still facing prices well above pre-Covid levels, Realtor.com says.
Prospective renters wait to enter an apartment during an open house in the Williamsburg neighborhood of Brooklyn, New York.
Photographer: Bess Adler/BloombergThis article is for subscribers only.
Rents in the US increased at the slowest pace in more than a year as tenant budgets were stretched to new limits, according to a new report from Realtor.com.
Rents rose 7.8% in September to a median $1,759, slowing from double-digit increases seen for more than a year, the data show. Median US rents peaked in July and are still up nearly 25% since before the pandemic.