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According to Apartment List’s National Rent Report for August 2024, national median rent dropped 0.1% to $1,412. They say this signals the end of the rental market’s annual busy season – as well as the second consecutive summer of modest rent growth.
“This signals the end of the rental market’s annual busy season, as well as the second consecutive summer of modest rent growth, as the market remains sluggish thanks to a windfall of new supply. If historical trends hold, rents will continue to fall on a monthly basis for the remainder of the year.”
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