free hit counter code The 15 Major U.S. Cities Where Rent Is Plummeting the Most – Freeht.buzz

The 15 Major U.S. Cities Where Rent Is Plummeting the Most

<p>If you dread having to <a rel=”noopener noreferrer external nofollow” href=”https://bestlifeonline.com/pay-rent-with-credit-card-news/” target=”_blank”>pay rent</a> on the first of every month, you’re certainly not alone. Half of renters in the U.S. are <a rel=”noopener noreferrer external nofollow” title=”Harvard: America’s Rental Housing 2024″ href=”https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Americas_Rental_Housing_2024.pdf” target=”_blank” data-citation=”true”>struggling to afford</a> their rent right now, according to Harvard University’s Joint Center for Housing Studies. But the chunk of change you’re forced to hand over monthly can change dramatically depending on where you live. The <a rel=”noopener noreferrer external nofollow” href=”https://www.rent.com/research/january-2024-rent-report/” target=”_blank”>Jan. 2024 Rent Report</a> from research technology firm Rent. revealed that annual rent prices continued to decline nationally in December, with some cities seeing serious savings.</p>
<p>According to their research, the national median price for an apartment is now $1,964—making this the third month in a row that median rent prices have fallen below $2,000.</p>
<p>”December’s modest price drop signals a return to normalcy in the market following the pandemic,” Rent. author <strong>Anthony Gardner</strong> writes.</p>
<p>Of course, rents aren’t falling <em>everywhere</em>. If you live in cities like New York or Los Angeles, you’re certainly still feeling the burden of higher prices. But some areas have experienced significant declines: Read on to discover the 15 major U.S. cities where rent is plummeting the most right now.</p>
<p><strong>RELATED: <a rel=”noopener noreferrer external nofollow” href=”https://bestlifeonline.com/most-affordable-cities-to-buy-a-house/” target=”_blank”>10 Most Affordable U.S. Cities to Buy a House in Right Now, New Research Shows</a>.</strong></p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-323283″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2021/08/louisville-kentucky.jpg?quality=82&strip=all&w=500″ alt=”Louisville downtown skyline view with a park with trees in the foreground. Picture taken during autumn.” width=”500″ height=”331″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 5.36 percent</p>
<p>Out of the 15 U.S. cities where rent is plummeting the most, the Louisville metro area in Kentucky might not have the biggest yearly decline, but it <em>does</em> have the cheapest median rent. The asking rent in Louisville/Jefferson County is currently $1,267‚ which is down 5.36 percent from the year prior.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-528456″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2024/02/dallas-texas.jpg?quality=82&strip=all&w=500″ alt=”Dallas, Texas cityscape with blue sky at sunset, Texas” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 5.60 percent</p>
<p>The current median rent in Dallas is $2,012. While that may still be a little higher than many can afford, a <a rel=”noopener noreferrer external nofollow” href=”https://www.axios.com/local/dallas/2023/12/01/free-rent-offers-dallas-tenants” target=”_blank”>recent analysis by Zillow</a> discovered that more landlords in this area are offering incentives like free months of rent or free parking in an effort to entice new tenants, Axios reported.</p>
<p><strong>RELATED: <a rel=”noopener noreferrer external nofollow” href=”https://bestlifeonline.com/most-affordable-us-cities-for-retirees/” target=”_blank”>The 20 Most Affordable U.S. Cities for Retirees, New Research Shows</a>.</strong></p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-525751″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2024/01/louisiana.jpg?quality=82&strip=all&w=500″ alt=”The city skyline of New Orleans, Louisiana, and surrounding metropolitan area along the banks of the Mississippi River shot from an altitude of about 1000 feet during a helicopter photo flight.” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 6.04 percent</p>
<p>The median asking rent price in New Orleans fell 6.04 percent year-over-year to $1,646. The city was also just named the best place for those looking to <a rel=”noopener noreferrer external nofollow” title=”Florida Atlantic University Study: The Best Housing Market to Buy in Based on Past Pricing Trends” href=”https://www.fau.edu/newsdesk/articles/best-housing-market-buy-pricing-trends.php” target=”_blank” data-citation=”true”>buy a house</a>, according to researchers at Florida Atlantic University and Florida International University.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-358692″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2022/04/cleveland-ohio-city-line.jpg?quality=82&strip=all&w=500″ alt=”Skyline view of downtown Cleveland Ohio USA looking over the Marina by Lake Erie” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 6.19 percent</p>
<p>Further north, costs are also coming down in Cleveland. The asking rent in this city is now $1,471, which is an annual decline of 6.19 percent.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-525732″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2024/01/tennessee.jpg?quality=82&strip=all&w=500″ alt=”The skyline of beautiful Nashville, Tennessee, known as “Music City” along the banks of the Cumberland River.” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 6.52 percent</p>
<p>If you want to move to Nashville, now is the time. The median rent is currently down 6.52 percent to $1,962, but experts say you can likely find places much cheaper than that, too.</p>
<p>”Now is a great chance for any renters in Nashville to take advantage of the deals and specials that are being offered, because it may be a while before we see this type of environment again,” <strong>Joel Sanders</strong>, founder and CEO of Apartment Insiders, told local ABC-affiliate WKRN in a <a rel=”noopener noreferrer external nofollow” href=”https://www.wkrn.com/news/local-news/nashville/why-nashville-rents-have-been-dropping-in-2024/” target=”_blank”>recent interview</a>.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-316170″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2021/07/sacaremento-california.jpg?quality=82&strip=all&w=500″ alt=”High quality stock aerial view photo of Sacramento’s Tower Bridge and the Sacramento River, looking towards the Capitol mall and building.” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 6.65 percent</p>
<p>California cities are not known for their affordability. But in Aug. 2023, <a rel=”noopener noreferrer external nofollow” href=”https://fox40.com/news/local-news/sacramento/sacramento-rent-cost-decreases-for-first-time-in-13-years-study-says/” target=”_blank”>rent prices decreased</a> in Sacramento for the first time in 13 years, Fox40 reported. Now, Rent.’s research indicates that the city’s year-over-year rent has fallen 6.65 percent in December to a median asking price of $2,537.</p>
<p><strong>RELATED: <a rel=”noopener noreferrer external nofollow” href=”https://bestlifeonline.com/most-expensive-cities-to-heat-a-home/” target=”_blank”>10 Cities Where It’s Most Expensive to Heat Your Home, New Data Shows</a>.</strong></p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-528465″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2024/02/portland-oregon.jpg?quality=82&strip=all&w=500″ alt=”Portland Before Sunrise” width=”500″ height=”281″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 6.72 percent</p>
<p>Also over on the West Coast, Portland’s rent is similarly plummeting. The city experienced a -6.72 year-over-year percent change in December, with the current asking rent now $2,302.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-472469″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2023/05/miami-beach-1.jpg?quality=82&strip=all&w=500″ alt=”Sunset aerial shot of Miami Beach.” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 7.67 percent</p>
<p>Miami was the <a rel=”noopener noreferrer external nofollow” href=”https://www.rentcafe.com/blog/rental-market/market-snapshots/most-competitive-rental-markets-this-year/” target=”_blank”>hottest rental market</a> in the U.S. last year, according to RentCafe. But its prices came down during the year, too, falling 7.67 percent to $2,915 in December, per Rent.’s research.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-364242″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2022/05/shutterstock_242365990.jpg?quality=82&strip=all&w=500″ alt=”Denver Colorado” width=”500″ height=”327″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 7.69 percent</p>
<p>The asking rent price in Denver has declined 7.69 percent to $2,546 over the last year—and it seems to be somewhere people want to live as well. RentCafe discovered that Denver was the fifth <a rel=”noopener noreferrer external nofollow” href=”https://www.rentcafe.com/blog/rental-market/market-snapshots/most-competitive-rental-markets-this-year/” target=”_blank”>most searched destination</a> for renters in the U.S. in Aug. 2023, Denverite reported.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-230338″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2020/05/shutterstock_766704793.jpg?quality=82&strip=all&w=500″ alt=”skyline of Memphis, Tennessee” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 7.75 percent</p>
<p>Joining Nashville, the median rent dropped in Memphis last December, too. The year-over-year change was -7.75 percent, bringing the cost down to $1,402.</p>
<p><strong>RELATED: <a rel=”noopener noreferrer external nofollow” href=”https://bestlifeonline.com/least-safe-cities-us/” target=”_blank”>The 10 Least Safe Cities in the U.S., New Research Shows</a>.</strong></p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-525717″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2024/01/Texas.jpg?quality=82&strip=all&w=500″ alt=”The skyline of Houston, Texas at sunset shot from an altitude of about 600 feet .” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 8.74 percent</p>
<p>The asking rent in Houston is currently $1,592, down 8.74 percent annually. This city also has the fourth <a rel=”noopener noreferrer external nofollow” title=”Houston: Cost of Living Comparison” href=”https://www.houston.org/houston-data/cost-living-comparison” target=”_blank” data-citation=”true”>lowest living costs</a> among the most populous U.S. metro areas, according to the C2ER Cost of Living Index.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-415867″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2022/12/shutterstock_1682810170.jpg?quality=82&strip=all&w=500″ alt=”Las Vegas Nevada” width=”500″ height=”334″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 9.27 percent</p>
<p>Most of us see Las Vegas as a vacation spot, but it’s actually becoming more affordable for renters. The median rent year-over-year fell 9.27 percent in December to $1,638.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-343187″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2022/01/downtown-raleigh-north-carolina-states-covid-surges-jan-4.jpg?quality=82&strip=all&w=500″ alt=”The skyline of Raleigh, North Carolina” width=”500″ height=”282″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 12.18 percent</p>
<p>If you’re looking to live in North Carolina, you may want to consider Raleigh. This city saw a significant 12.18 percent decline on a yearly basis, so the median rent is now just $1,873.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-373558″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2022/07/downtown-austin.jpg?quality=82&strip=all&w=500″ alt=”” width=”500″ height=”304″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 12.53 percent</p>
<p>A third Texas city has joined the ranks of major U.S. cities where rent is going down the most. Austin experienced a -12.53 percent year-over-year change in rent, bringing the median cost down to $1,985.</p>
<!– slidetitle start –>
<div class=”number-head-mod number-head-mod-standalone”>
<h2 class=”header-mod”>
<div class=”title”>The 15 Major U.S. Cities Where Rent Is Plummeting the Most</div>
</h2>
</div>

<p><img decoding=”async” class=”alignnone size-medium wp-image-267225″ src=”https://bestlifeonline.com/wp-content/uploads/sites/3/2020/11/salt-lake-city-utah.jpg?quality=82&strip=all&w=500″ alt=”city skyline of downtown Salt Lake City, Utah at dusk” width=”500″ height=”333″ /></p>
<p><strong>Yearly decline in rent prices:</strong> 20.75 percent</p>
<p>But where are rents plummeting the most in the country? Salt Lake City, where prices have “dropped sharply” with a shocking 20.75 percent yearly decline. As a result, the asking rent in Salt Lake City is currently $1,788.</p>
<p>
<strong>RELATED:
<a href=”https://bestlifeonline.com/newsletters/”
target=”_blank”
rel=”noopener”>For more up-to-date information, sign up for our
daily newsletter</a>.</strong>
</p>

The post The 15 Major U.S. Cities Where Rent Is Plummeting the Most appeared first on Best Life.

About admin