The U.S. rental market has seen a notable shift, with July 2026 marking the first year-over-year rent decline in three years for 0–2 bedroom properties across the 50 largest metropolitan areas.
According to the latest July Rent Report from Realtor.com®, the national median asking rent fell by $24, or 1.4%, compared to a year ago.
This brings the national median asking rent in these major metros to $1,695. However, despite this national trend, local markets can vary significantly…