Housing Trends

Finance News

The average nationwide rent is now $1,653, the highest since October 2022

Sunbelt cities offer the most relief for renters, according to a new study

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While home prices in some markets are going down, rents are mostly rising. The cost of housing, whether you are buying or renting, remains near an all-time high.

In a new report, real estate brokerage firm Redfin found rents in the U.S. rose by nearly 1% in May from May 2023. The average nationwide rent is now  $1,653 — the highest level since October 2022.

Redfin reports May marked the second consecutive increase, after rents climbed 0.9% in April. 

Rents have been on the...

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