The rental market continues to work in favor of people looking to lease, as August marked the 25th straight month of year-over-year rent declines for 0-2 bedroom properties, according to the Realtor.com® August Rental Report.
The median asking rent in the 50 largest metros is $1,713—that’s $46 (-2.6%) lower than its peak in August 2022, but three metros are seeing the biggest price cuts.
Rents in Las Vegas (-13.6%), Atlanta (-13.6%), and Austin, TX (-13.4%), are seeing the largest price cuts from their peaks, highlighting prime opportunities in these markets…