Rents Hit Four-Year Low as President Trump Continues Affordability Push

President Donald J. Trump is delivering real, immediate relief to American families struggling with high housing costs as the national median rent falls to its lowest level since 2022. According to new data, rents posted their sixth straight monthly decline in January, with the largest annual drop in more than two years — down 6.2% from their Biden-era peak.

“2026 is shaping up to be one of the more renter-friendly periods we’ve seen in a decade,” says one real estate expert.

It’s being felt in across the country:

• CNBC: Apartment rents just dropped to the lowest level in 4 years
• KDVR-TV (Denver, CO): Denver rent is at its most affordable in at least 9 years: Zillow
• Pittsburgh Post-Gazette (Pittsburgh, PA): Pittsburgh apartment rental prices dropped in 2025
• KNXV-TV (Phoenix, AZ): New report shows rental prices drop in Phoenix, across most US markets
• KNSD-TV (San Diego, CA): San Diego rents dip for first time since 2010, new data shows
• WBZ-TV (Boston, MA): Report finds rent is getting cheaper in some Massachusetts communities
• Las Vegas Review-Journal (Las Vegas, NV): Rents, gasoline prices fall in the Las Vegas area
• Dayton Business Journal (Dayton, OH): Dayton renters gain ground as single family rents decline
• Erie Times-News (Erie, PA): Erie apartments ​for rent saw price decreases since last December
• Los Angeles Times (Los Angeles, CA): ‘Finally, a renter’s market’: L.A. rent prices drop to four-year low
• Chattanooga Times Free Press (Chattanooga, TN): Chattanooga median rent down compared to last year
• KBOI-TV (Boise, ID): Boise rent 22% below U.S. average, down 6% from peak rent prices
• WSMV-TV (Nashville, TN): Nashville rent prices on the decline, but still the highest in Metro area
• South Carolina Public Radio: Rents in South Carolina are almost back to where they were in 2024
• Wichita Times Record News (Wichita Falls, TX): Wichita Falls apartments ​for rent saw price decreases since last December
• ALXnow (Alexandria, VA): Median apartment rents in Alexandria post first year-over-year drop since 2020
• The Sheboygan Press (Sheboygan, WI): Sheboygan apartments ​for rent saw price decreases since last November
• KRQE-TV (Santa Fe, NM): More apartment units built in Santa Fe lowering rent prices city-wide
• Realtor.com: Dallas-Fort Worth Rents Are Going Down
• CNBC: Rents are falling in these major U.S. cities heading into 2026—one of the more ‘renter-friendly periods’ in a decade, says expert

This welcome news for renters comes as President Trump’s agenda delivers multi-year-low gas prices, falling mortgage rates, record-breaking tax refunds, wage increases, and more — with much more relief on the way to make sure all Americans benefit.

The progress reflects the early impacts of President Trump’s comprehensive approach to housing — increasing supply, reducing bureaucratic barriers, and empowering builders to meet demand. While renters enjoy this relief today, President Trump remains focused on restoring the American Dream of homeownership for all Americans, committed to building on this momentum with further reforms that deliver affordability now and the path to owning a home for generations to come.

President Donald J. Trump is delivering real, immediate relief to American families struggling with high housing costs as the national median rent falls to its lowest level since 2022. According to new data, rents posted their sixth straight monthly decline in January, with the largest annual drop in more than two years — down 6.2% from their Biden-era peak.

“2026 is shaping up to be one of the more renter-friendly periods we’ve seen in a decade,” says one real estate expert.

It’s being felt in across the country:

• CNBC: Apartment rents just dropped to the lowest level in 4 years
• KDVR-TV (Denver, CO): Denver rent is at its most affordable in at least 9 years: Zillow
• Pittsburgh Post-Gazette (Pittsburgh, PA): Pittsburgh apartment rental prices dropped in 2025
• KNXV-TV (Phoenix, AZ): New report shows rental prices drop in Phoenix, across most US markets
• KNSD-TV (San Diego, CA): San Diego rents dip for first time since 2010, new data shows
• WBZ-TV (Boston, MA): Report finds rent is getting cheaper in some Massachusetts communities
• Las Vegas Review-Journal (Las Vegas, NV): Rents, gasoline prices fall in the Las Vegas area
• Dayton Business Journal (Dayton, OH): Dayton renters gain ground as single family rents decline
• Erie Times-News (Erie, PA): Erie apartments ​for rent saw price decreases since last December
• Los Angeles Times (Los Angeles, CA): ‘Finally, a renter’s market’: L.A. rent prices drop to four-year low
• Chattanooga Times Free Press (Chattanooga, TN): Chattanooga median rent down compared to last year
• KBOI-TV (Boise, ID): Boise rent 22% below U.S. average, down 6% from peak rent prices
• WSMV-TV (Nashville, TN): Nashville rent prices on the decline, but still the highest in Metro area
• South Carolina Public Radio: Rents in South Carolina are almost back to where they were in 2024
• Wichita Times Record News (Wichita Falls, TX): Wichita Falls apartments ​for rent saw price decreases since last December
• ALXnow (Alexandria, VA): Median apartment rents in Alexandria post first year-over-year drop since 2020
• The Sheboygan Press (Sheboygan, WI): Sheboygan apartments ​for rent saw price decreases since last November
• KRQE-TV (Santa Fe, NM): More apartment units built in Santa Fe lowering rent prices city-wide
• Realtor.com: Dallas-Fort Worth Rents Are Going Down
• CNBC: Rents are falling in these major U.S. cities heading into 2026—one of the more ‘renter-friendly periods’ in a decade, says expert

This welcome news for renters comes as President Trump’s agenda delivers multi-year-low gas prices, falling mortgage rates, record-breaking tax refunds, wage increases, and more — with much more relief on the way to make sure all Americans benefit.

The progress reflects the early impacts of President Trump’s comprehensive approach to housing — increasing supply, reducing bureaucratic barriers, and empowering builders to meet demand. While renters enjoy this relief today, President Trump remains focused on restoring the American Dream of homeownership for all Americans, committed to building on this momentum with further reforms that deliver affordability now and the path to owning a home for generations to come.