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Redfin report: The Sun Belt is seeing some of the biggest rent declines in America
Research - MAY 20, 2024

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Redfin report: The Sun Belt is seeing some of the biggest rent declines in America

by Released

The median asking rent in Seattle fell 7.3 percent year-over-year in April, according to a new report from Redfin. It’s the biggest drop among the U.S. metros Redfin analyzed.

Next came nine Sun Belt metros: Austin (-6.6 percent); Nashville (-5.9 percent); Jacksonville, Fla. (-5.6 percent); Miami (-5 percent); San Diego (-4.7 percent); Phoenix (-4.6 percent); Charlotte, N.C. (-4.5 percent); Tampa, Fla. (-4.3 percent); and Orlando, Fla. (-3.2 percent).

Metro-level data in Redfin’s report covers apartment asking rents in 33 major U.S. metropolitan areas. National data represents the entire United States. Please note that this report marks the debut of Redfin’s new rental market data metho

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