Realtor.com: US median asking rent falls 1.5% in June as apartment supply outpaces demand - NWSA News | RalliesRealtor.com: US median asking rent falls 1.5% in June as apartment supply outpaces demand
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NWSA• US median asking rent falls 1.5% in June as apartment supply outpaces demand
- News Corp analysis shows median asking rent across the 50 largest US metros fell to $1,692 in June 2026, down 1.5% year over year.
- The decline extended to 35 straight months; median rent sits $72 below the 2022 peak, still $238 above pre-pandemic levels.
- Multifamily permitting totaled 302,730 units in 2025, up 1.9% from 2024, down 34.4% from the 2022 peak.
- New York and Boston hit their slowest permitting pace since 2019, raising risk of weaker rent relief despite local rent regulation efforts.
- Columbus led permitting momentum at 4.3 units per 1,000 residents; San Jose rent reached a record $3,423, up 3.3% year over year.
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