The U.S. rental market has reached a significant milestone, marking three full years of consistent year-over-year rent declines for bedroom properties across the 50 largest metropolitan areas.
This sustained downturn, detailed in the latest July Rent Report from Realtor.com®, shows the national median asking rent falling by $24, or 1.4%, compared to a year ago.
However, while national trends point to decreasing rents, local markets can vary significantly…