10 Cities Where Rent Prices Have Been Declining Rapidly

There are few things in life that get less expensive with time, but lately, rent has been one of them. According to Realtor.com’s September 2024 rental report, last month was the 14th month of year-over-year rent decline in a row for zero- to two-bedroom properties. On average, the decline hasn’t been major — $8 or -0.5% year-over-year — but in some cities, rent prices have been declining more rapidly.

Here’s a look at the 10 cities where rent prices have been dropping quickly.

• Median asking rent: $1,578
• Year-over-year change: -4.8%

• Median asking rent: $1,475
• Year-over-year change: -4.0%

• Median asking rent: $1,889
• Year-over-year change: -4.0%

• Median asking rent: $1,522
• Year-over-year change: -3.7%

• Median asking rent: $1,251
• Year-over-year change: -3.5%

• Median asking rent: $1,227
• Year-over-year change: -3.5%

• Median asking rent: $2,828
• Year-over-year change: -3.4%

• Median asking rent: $1,610
• Year-over-year change: -3.2%

• Median asking rent: $2,372
• Year-over-year change: -3.1%

• Median asking rent: $1,268
• Year-over-year change: -3.1%

Data is sourced from Realtor.com’s September 2024 Rental Report.