US rents fell additional 0.5% in September

Apartment List observed negative rent growth for a 2nd consecutive month
Year-over-year rent growth remains at -1.2%
85 of the nation’s 100 largest markets saw rents fall

Updated: Oct 4, 2023 / 11:40 PM CDT

Holding a key, rent, housing crisis

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

Loan Amount ($):

This is the total amount you're borrowing from the bank.

Annual Interest Rate (%):

This is the yearly interest rate on your loan.

Loan Term (years):

This is how long you'll take to repay the loan.

Annual Property Tax ($):

This is the yearly tax you pay on your property.

Annual Homeowners Insurance ($):

This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

(NewsNation) — Nationwide rents fell an additional 0.5% in September, according to a new Apartment List report.

This is the second consecutive month with negative rent growth.

“This is the steepest September rent drop measured by our index and signals that we are squarely in the rental market’s end-of-season slowdown,” Apartment List researcher Rob Warnock said.

The nationwide median rent currently stands at $1,364, according to Apartment List. The median for one-bedroom apartments is $1,170 and for two-bedroom apartments is $1,341.

Year-over-year rent growth remains at -1.2%, which is consistent with last month. This means that on average, apartments are 1.2% cheaper today than they were last year.

“The slow season is spreading across the country, as 85 of the nation’s 100 largest markets saw rents fall in September,” Warnock added.