U.S. Rents fell for the 8th straight month due to boom in new apartments

[2legit]

US Median Rents Fall for Eighth Month on Boom in New Apartments​

• Orlando, Austin, Dallas see biggest declines in rent prices
• December rents remain 22% higher than before the pandemic

US median rents dropped for an eighth straight month in December as a surge in new units provided some relief on asking prices and suggested further declines in 2024.

Metro areas in the West such as San Francisco and Los Angeles continued to experience year-on-year price declines, but the most significant drops were seen across big cities in the South as multifamily completion rates jumped 32% from January to October, according to a report by Realtor.com Thursday.

US Median Rents Fall for Eighth Month on Boom in New Apartments

US median rents dropped for an eighth straight month in December as a surge in new units provided some relief on asking prices and suggested further declines in 2024.

www.bloomberg.com

 

[Mook]

Can anyone on this forum confirm their rent has gone down or stayed the same?

 

[Chrishaune]

Where?

 

[aXiom]

Location, location location...

And can yall please stop moving to South Florida?

 

[Ol’Otis]

Can anyone on this forum confirm their rent has gone down or stayed the same?

Everybody on the coli are homeowners

 

[2legit]

Can anyone on this forum confirm their rent has gone down or stayed the same?

Rent prices are down in every city in California except one

Rent prices in California’s largest cities are down, except here

According to December 2023 data from Rent.com, Sacramento saw the largest shift with rents falling over 6.5% to a median of $2,537 monthly. In the Riverside metro area, rent prices fell by more than 3.5%.

news.yahoo.com

 

[P90]

Boston median rent went up in 2023 by 3.6% which is lower than the 9ish% prior year. I renewed in early 2023 for a 6% increase.

 

[Bunchy Carter]

Can anyone on this forum confirm their rent has gone down or stayed the same?

A lot of these users still live at home, like the user below. You can tell the picture was taken in his parents living room:

 

[UWasntThere]

Can anyone on this forum confirm their rent has gone down or stayed the same?

It's never going to happen voluntarily, only when a unit is sitting on the market and they need to be competitive.

 

[Still Benefited]

Probably just some move in specials to incentivize people to move into "new apartments" that were empty because people couldnt afford them. Hope they saving up for that increase at renewal


My apartment gets worst and worst,we got homeless people living in the building as we speak. I see them laying in the hallway in the mornings.We got at least one guy living in the stairwell,looks like several based on the ammount of trash and variety of smells


One morning i took the stairs and i heard a voice "Who dat!". I just kept walking and then they said it again more aggressively "I saaaaid who DAT". I told the voice "I live here". But no need to be a big shot,I kept walking. You never know how deep they might be. One day I walked in and 5 of them were chillin on the stairs with the "" face and they werent moving off the stairs for me to pass. I immediately shut the door back. But then I felt p*ssy,so i walked back in and did the Iverson step over on all they asses. Only reason I havent snitched is because it may be helpful during renegotiations if they try to raise a 3rd year in a row. "We really raising the rent with all these people living here for free"




"Get punked once its an anomoly,get punked twice its part of your character"-Still Benefited

 

[prime]

It's starting to happen in the south east suburbs of the Chicagoland area. A lot of people are just moving to northwest Indiana for cheaper rent and now rent prices are decreasing out here because properties were sitting for months

 

[Ghost Utmost]

Scary shyt.

Having roommates is gonna be standard.. but maybe that will drive prices down

 

[Sauce Mane]

Where?

Certainly not in nyc

 

[Mook]

Rent prices are down in every city in California except one

Rent prices in California’s largest cities are down, except here

According to December 2023 data from Rent.com, Sacramento saw the largest shift with rents falling over 6.5% to a median of $2,537 monthly. In the Riverside metro area, rent prices fell by more than 3.5%.

news.yahoo.com

Can anyone on this forum confirm their rent has gone down or stayed the same?

 

[prime]

Scary shyt.

Having roommates is gonna be standard.. but maybe that will drive prices down

Honestly a certain demographic of women gotta be cool with 50/50 The man pay the bigger bills like rent,car notes,car insurance and the woman pay the utility bills