​Apartment rents are Now 1.2% Cheaper Than a Year Ago

Remember those escalating apartment rent numbers, some skyrocketing 40% in very popular cities? They’re now in your rear-view mirror, as rent growth has dropped.

The nationwide median rent fell 0.5% to $1,364, according to Apartment List’s National Rent report. Annual rent growth is now at -1.2%, which translates to apartments being 1.2% less expensive now than they were a year ago.

In recent years, the growth sometimes neared 18%, though it also climbed higher in selective markets.

Full article here.