1021 ET - Rents declined again in September, according to Realtor.com, extending a two-year stretch of easing prices and modestly improving affordability for typical households. The latest drop, the second month-over-month decline since March, reflects the market's normal cooling heading into fall. The median asking monthly rent for studios to 2 bedroom properties in the 50 largest metros was $1,703, down $36, or 2.1%, from a year ago, and $10 lower than the prior month. Monthly rents now sit $56, or 3.2%, below their August 2022 peak. But they also remain 16.5% higher than before the pandemic. Renters earning the typical household income devoted 23.4% of their income to lease a typical home in September, down from 24.9% one year ago. This shift reflects both modest rent declines and income growth over the past year. (chris.wack@wsj.com)
(END) Dow Jones Newswires
October 14, 2025 10:21 ET (14:21 GMT)
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