According to Apartment List’s National Rent Report for October 2024, national median rent dropped 0.5% to $1,405. They say we are likely to see that number continue to modestly drop through the remainder of 2024.
“Rent growth follows a seasonal pattern – prices tend to go up during the spring and summer and dip during the fall and winter. We have now transitioned between those seasons – August saw month-over-month rent growth flip from slightly positive to slightly negative, and now September has brought a second, sharper monthly decline.”
