Rent growth is finally stagnating, and these 33 cities have lower prices than last year — including trendy spots like Austin, Texas
A much-needed increase in apartment inventory kept rents from rising even further.It's been a red-hot summer for much of the US, but the same can't be said for rent growth.
Nearly half of the 100 largest real-estate markets in the US saw rents fall outright from 2022 in June, and another nine cities had no year-over-year change in rent growth. "This deceleration is, generally, good news for renters, but it does come with caveats," said Anthemos Georgiades, the CEO of Zumper,."Many cities are still stabilizing after long periods of sharp increases during the pandemic's Great Migration, and though rents are softening they're still at record highs in many markets."
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