Median new-lease rent ↓1.5% yearly across the country, offering renters relief.
Some Mountain West markets saw bigger drops, reaching ↓5% yearly in places.
City declines cited: Denver ↓5%
AZ areas ↓4-5%
Salt Lake City ↓2.5%
LV ↓3.5%
Boise ↓~1%
Despite declines, rents stayed above pre-COVID levels from ~6 yr ago.
Building boom shifted supply-demand, giving renters a small edge for deals.
Builders increasingly construct single-family homes explicitly for rent, estimated at >10%.
Mountain West Markets Saw Rents Ease | Carol Strom real estate broker. Founder of USAfitpros.com 50 state Telehealth and Labs bolt-on virtual LegitScript business
