Rent Is Dropping in the U.S. Should You Lock in a New Lease Now?

Rent Is Dropping in the U.S. Should You Lock in a New Lease Now?

The median rent in the U.S., similar to the price of homes, hit an all-time high of $2,053 in the summer of 2022. Since then, the median monthly rent has dropped to $1,978. The cooling of the housing market, increased supply, and lower demand has impacted rents, giving an excellent opportunity for anyone looking to rent an affordable apartment or house.