Rental information site Zumper recently released their latest monthly National Rent Report for March, 2023. According to their data, rent for 1-bedroom apartments was $1,494 (up .02% from February) and the median two-bedroom rent was $1,833 (up 0.5% from February). Zumper says this uptick points to a larger trend of deceleration of price increases and a gradual return to seasonality. Be sure to check out their list of the top 100 metro areas.
“…the rental market continues to inch towards normal…This new reality is emerging thanks to a number of dueling forces. Rental supply is up in many markets thanks to long-awaited new inventory coming online; yet, at the same time, competition for rentals remains strong because high interest rates have pushed many Americans out of the buyer’s market.”