Tariffs and Rising Construction Costs Could Signal Trouble Ahead For Rents - Despite Two Years Price Declines

The impact is being felt across the country as the Midwest saw the steepest annual drop in completions, followed by the South. AUSTIN, Texas, Aug. 12, 2025 /PRNewswire/ -- Rent prices declined for the 24th month in a row in July, marking a full two years of easing rental pressure in the U.S. rental market. At the same time, a growing pullback in multifamily development driven by rising construction costs and new tariffs on key materials like aluminum and steel is signaling potential trouble ahead for future ...