Rents Fall for the 15th Month in a Row—and the South Becomes Even Friendlier to Renters

Here’s some good news for renters: Rent prices are still moving in the right direction—and have fallen for the 15th consecutive month.

The median asking rent in the 50 largest metros registered at $1,720, down $23 from last month and $40 from its August 2022 peak, notes Realtor.com economist Jiayi Xu in the October 2024 Rental Report.

While the drops have been modest—this month saw just a $9 dip year over year—it’s a welcome relief for anyone searching for a place to call home.

Here’s some good news for renters: Rent prices are still moving in the right direction—and have fallen for the 15th consecutive month.

The median asking rent in the 50 largest metros registered at $1,720, down $23 from last month and $40 from its August 2022 peak, notes Realtor.com economist Jiayi Xu in the October 2024 Rental Report.

While the drops have been modest—this month saw just a $9 dip year over year—it’s a welcome relief for anyone searching for a place to call home.

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