Good news, Renters! While the average rent is still up 1.7% year over year as of February, rent prices have actually fallen over the past year in 12 major cities.
Here's a look at the metro areas where rent is getting cheaper, ranked from smallest to largest price drops over the past year.
Decrease in rent prices year over year: -0.17%
Decrease in rent prices year over year: -0.34%
Decrease in rent prices year over year: -0.52%
Decrease in rent prices year over year: -0.55%
Decrease in rent prices year over year: -1.91%
Decrease in rent prices year over year: -2.21%
Decrease in rent prices year over year: -2.56%
Decrease in rent prices year over year: -3.5%
Decrease in rent prices year over year: -4%
Decrease in rent prices year over year: -6.36%
Decrease in rent prices year over year: -6.51%
Decrease in rent prices year over year: -15.71%