Fresh data you freaks https://www.realtor.com/research/may-2023-rent/
Highlights
-May 2023 marks the first year-over-year rent decline for 0-2 bedroom properties (-0.5% Y/Y) observed since trend data began in 2020.
-The median asking rent in the 50 largest metros increased to $1,739, up by $3 from last month and down $38 from its July 2022 peak.
-Rent for 2-bedrooms saw its first year-over-year decline in our data history, while smaller units saw rents increase. Rent by size: Studio: $1,463, up 2.0% ($28) year-over-year; 1-bed: $1,628, up 0.4% ($6) year-over-year; 2-bed: $1,923, down 0.5% (-$10) year-over-year.
-Rents in the Midwest are slowing, but continue to increase (4.5% Y/Y), while rents in the West (-3.0% Y/Y) and South markets (-0.7%) were lower than a year ago.
-With the release of the mid-year forecast, we expect that the median asking rents will experience a small annual decline at a rate of -0.9% in 2023.