Renters are seeing relief and the price peak may be behind us

📆 8/22/2023 8:51 PM
📰 YahooFinanceCA

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Renters may be able to finally breathe a sigh of relief. Rent prices are coming down, according to Realtor.com. Realtor.com Chief Economist Danielle Hale says U.S. renters have likely seen the peak in prices for 2023, adding that 'we are likely to see that 2022 was the peak for rents and we are starting to see some decline.' Hale says areas like Miami and other major cities are still pricier to rent in, but areas in the South and Midwest are still affordable, with Oklahoma City topping the affordability list. However, Hale notes that some of the places that are the most affordable are seeing prices going up faster. 

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