Rent prices fall in September for the first time in six months

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Rent prices fall in September for the first time in six months
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Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.

Rent prices fell in September, a sign that pressures in the rental market might be starting to abate after months of increases.

“Looking forward, if patterns over the last year hold, the monthly drop in rent could indicate a return to normal seasonal price changes that eluded the market during the pandemic,” the report said. The highest year-over-year rental price growth was notched in the Midwest, although rents in that region remain the most affordable in the country, with the median price hovering at $1,435. The Northeast also experienced year-over-year price growth.

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