November 2024 Rental Report: Minimum Wage Earners Need to Work Extended Hours while Rents Continue to Fall

November 2024 Rental Report: Minimum Wage Earners Need to Work Extended Hours while Rents Continue to Fall

Highlights – November 2024 marks the sixteenth month of year-over-year rent decline in a row for 0-2 bedroom properties. Asking rents dipped by $19 or -1.1% year-over-year. – The median asking rent in the 50 largest metros registered at $1,703, down by $17 from last month and $57 lower than its August 2022 peak. –
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