Rental prices in the United States saw little change last month, continuing a two-year trend of stable prices, according to a recent report from real estate brokerage Redfin.
The median asking rent moved up by just 0.2 percent in October from the same month last year, to $1,619, according to the company’s Nov. 12 report.
“Rents have remained largely flat over the past two years, after a surge in demand during the pandemic led to a construction boom across a number of Sun Belt states,” the report states.
However, rental growth trends could be different based on the market, with some metropolitan areas experiencing double-digit spikes while others have been declining by the same degree, the brokerage said….