March decline in rents is the largest since before the pandemic

By: Tim Henderson

Outlets: Stateline

Published: March 31, 2026

Words: 341

Last Updated: 4 months ago

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Average rents in March were down 1.7% compared with March 2025, the largest year-over-year decline since the pandemic created more demand for apartments and drove a historic building boom.

The March decline was slightly greater than the 1.6% year-over-year drop in July 2020, at the height of pandemic chaos and a widespread flight from urban apartments, according to a new report by Apartment List, a company that posts rental listings online.

Eventually, the pandemic …

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