In April 2025, U.S. median rents for 0-2 bedroom units fell 1.7% year-over-year, marking the 21st consecutive monthly decline. Median rent was $1,699, down $60 from the August 2022 peak. Affordability improved nationally, with renters spending 23.4% of income on rent versus 24.7% last year. Miami remained least affordable, while Oklahoma City was most affordable. Western and Southern metros showed notable affordability gains due to increased rental supply.
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