Realtor.com® May Rental Report: Slower Decline in Rents Indicates Inflation May Persist

The median asking rent nationally for 0-2 bedroom units fell by -0.7% ($13) from May of last year to $1,732, and declined across all size categories. That's just $24 (-1.4%) below its August 2022 peak. Median asking rents have risen by 21.5% over the past five years. CPI shelter index is "stickier" Rents decline across all size categories Unit SizeMedian Rent Rent YoY Rent Change – 5 years Overall $1,732 -0.7 % 21.5 % Studio $1,449 -1.9 % 17.3 % 1-bed $1,612 -1.1 % 20.3 % 2-bed $1,925 -0.7 % 23.3 % Rents dr ...