The average one-bedroom costs $1,503 per month, while the average two-bedroom costs $1,845. But there are signs of an overall cooldown in the market.
Prices are up more than eleven percent compared to 2021. The average one-bedroom costs $1,503 per month, while the average two-bedroom costs $1,845.Cities like Nashville, Tampa, and Denver reported lower rent prices in September compared to August.
"Renters in today's housing market are facing a still-competitive market," said Danielle Hale, chief economist at Realtor.com."But the good news is that it's not quite as competitive as it has been."The median asking rent declined slightly from July to August of this year, according to the Realtor.com report.
"We've seen landlords really try to make up for some of the lost rent growth that they didn't capture during the pandemic," said Hale."Some of that make-up period may have passed, and landlords aren't pushing quite as hard on rent increases."Many of them are outside of landlords' control.
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