Nationwide, Redfin found that asking rents rose just 0.4% year-over-year to an average of $2,011 in September, as an increasing supply in recent years has flooded the market with inventory.
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Rents Slowly Returning to Pre-Pandemic Levels
Redfin reports the median U.S. asking rent fell 0.4% year-over-year to $1,937 in March 2023—the first annual decline since March 2020.
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