US Rents Decline Marginally in March

Austin, Texas, saw the largest decline, with rents dropping by more than 10 percent, followed by San Diego and Portland, Oregon.

A home for sale in San Anselmo, Calif., on March 22, 2023. Justin Sullivan/Getty Images

Rents across the United States fell slightly in March on an annual basis, although prices are potentially set up to jump in the future because of limited construction, according to real estate brokerage Redfin.

“The median U.S. asking price fell 0.6 percent year over year to $1,610 in March,” the company said in an April 14 statement.