Realtor.com® December Rental Report: Rents Continued to Fall as New Construction Outpaced Rental Demand

Memphis, Tenn., Denver, and Austin, Texas Saw the Biggest Year-over-Year Declines in Rents SANTA CLARA, Calif., Jan. 21, 2025 /PRNewswire/ -- For the 17th consecutive month, rents declined in December, falling by -1.1% year over year to a median of $1,695, according to the Realtor.com® December Rental Report released today. This is the first time since April 2022 where the national median asking rent fell below $1,700, as new construction nationally continues to outpace demand. "We are reaping the benefits ...