Renting in the suburbs isn’t as cheap as it used to be

Driven by migration away from expensive city centers during the pandemic, the rental price advantage of living in the suburbs  has shrunk by 52.9 percent compared to three years ago, according to the Realtor.com® Monthly Rental Report released today. As the U.S. median rental price hit its latest all-time high in July ($1,879), a new survey from Avail (part of Realtor.com®)  found that moving to a new rental has been costlier, but there may be market cooling on the horizon as landlords adjust to renter budgets impacted by inflation.

“Whether in a downtown area or subur