Press release
Realtor.com® December Rent Report: Relief Skips Many Lower-Cost Renters
Lower-priced rentals have posted stronger price growth since 2019, underscoring a widening affordability squeeze at the bottom of the marketAUSTIN, Texas,
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[{"type":"text","content":"Lower-priced rentals have posted stronger price growth since 2019, underscoring a widening affordability squeeze at the bottom of the marketAUSTIN, Texas, Jan. 15, 2026 /PRNewswire/ -- Asking rents declined for the 29th consecutive month year over year in December, but the latest data show the easing is increasingly concentrated among higher-priced rentals, leaving many lower-cost renters with little relief. The median asking rent across the 50 largest U.S. metros was $1,689, down 0.7% from December 2024, according to the Realtor.com® December Rental Report.\nWhile the national median rent has softened, the report finds that lower-priced rentals have seen the most rent growth since before the pandemic. From December 2019 to December 2025, the median asking rent rose 16.9%, but the 25th percentile (lower-priced rentals) climbed 19.9%, while the 75th percentile (higher-priced rentals) rose 12.5%. This rent compression suggests that much of the recent rent relief has been felt at the top of the market, while renters seeking more affordable options continue to face outsized price pressure.\"National rent declines have been remarkably persistent, but the distribution of that relief matters,\" said Danielle Hale, chief economist at Realtor.com®. \"Many renters shopping for more affordable homes may not feel much change because lower-priced rents have risen more since 2019 while the biggest markdowns have shown up at the high end.\"Rent declines are flattening as 2025 endsThe 0.7% year-over-year decline in December was the smallest annual drop since March, reflecting a pattern of rent declines flattening out at the end of 2025 after larger drops during the summer months. The current December reading is also the lowest since 2021, during the period of rapid rent acceleration that the market is still working through.Across unit sizes, studio, one-bedroom, and two-bedroom asking rents all declined again year over year, though studios are closer to flat than one- and two-bedroom units.Rent relief is concentrated at the top of the marketTo better understand what renters are experiencing beyond the median, Realtor.com® examined the 25th and 75th percentiles of asking rent since 2019. The findings show a clear split:Median asking rent: +16.9% (Dec 2019 → Dec 2025)25th percentile asking rent: +19.9%75th percentile asking rent: +12.5%This is du...