A new report from the Urban Institute found that one in five working-age renters struggled to pay rent last year. The share of middle-income renters that are facing these challenges grew by the biggest margin.
Rental marketplace Zumper registered a small increase for one- and two-bedroom apartments for March in its national rent report.
Cora Lewis, a business reporter at the Associated Press, discusses the rising trend of using “buy now, pay later” services to pay rent.
New data from Zillow shows renting is getting more affordable thanks to new supply.
In New York the median rent for a one-bedroom just crossed $4,500, by one estimate.
The pandemic exodus from coastal areas to cities like Austin and Atlanta has cooled off, and rental supply is outstripping demand.
The market is seeing a return of concessions and incentives for renters as demand cools in many parts of the nation.
High interest rates and limited inventory are key factors in restricting affordability.
High mortgage costs, low supply of houses for purchase and high rents made for a pretty bleak year. But there’s a glimmer of light on the horizon.
Asking rents are down 1% nationally, though they’re still rising in some regions.
