The median rent for an apartment in the United States has dipped 2.2 percent since August, pointing to a cooling of the country’s super-heated apartment market as demand slows and vacancy rates rise.
Apartment List, an online rental marketplace, observed a 1 percent decline in its national rent index in November, marking the third straight monthly decrease. Falling rents aren’t unusual around this time of year as rental activity tends to abate in the fall and winter; but the price drop since August is the steepest three-month decline going back to the start of the index in 2017.
