After six months of declines, the March 2025 Apartment List national rent index returned to positive month-over-month rent growth, increasing by 0.3% in February in line with seasonal trends. Year-over-year growth is inching back toward positive territory but remains negative at -0.4%, marking the third consecutive winter in which seasonal discounts have been notably sharper than the pre-pandemic norm, according to the index.
National median rent is $1,375, up $4 per month compared to last month but down $5 from February 2024, said Apartment List. Over the past 2.5 years, the national median rent has gradually dipped 4.6%, or $67 per month, below the mid-2022 peak.
Rent prices have been ebbing and flowing since the second half of 2022 with a modestly downward trajectory following record-setting growth in 2021 and early 2022, said Apartment List. Despite this cooldown, typical rent prices remain nearly 20% higher than their January 2021 level, according to the report.
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