Rent Prices Slow Down, But Still High

0:00Typical rents hit $1,910 a month in March, up just 1.8% from last year. That's the slowest climb since December 2020, according to fresh Zillow data. Finally, some breathing room after that post-pandemic spike. New apartments are flooding the market, demand is chilling out, and tight budgets are curving landlords' power to jack up prices. Plus, incomes grew faster than rents last month, handing renters a little extra cash flow. Even so, the average household still drops 26.5% of its pay on housing. Single-family rents, think townhomes and duplexes, rose 2.5% year over year. The slowest since Zillow started tracking in 2020. 15. Multi-family spots averaged $1,757, up 1.3%. In big cities, Austin saw the biggest drop at 2.3% lower than last year. Tampa and San Antonio both fell 1.6%. Meanwhile, affording that typical rent comfortably now demands $76,400 a year, 35% more than,

1:06pre-pandemic levels. Single-family rents have ballooned nearly 45% since early 2020, with multifamily up 28%. Rents may be cooling, but the pressure lingers as folks hustle to keep up. From your city, powered by AI, this is Dallas News Today.