US Apartment Rents Post Largest Annual Decline Since 2017 in March: Report

A sign is posted in front of an apartment building with available rentals in San Francisco on June 9, 2023. Justin Sullivan/Getty ImagesThe national median apartment rent shook off the seasonal winter chill and inched up by 0.4 percent in March from February to $1,363, Apartment List reported.However, the median rent was down by 1.7 percent from March 2025, the largest annual decline since Apartment List began compiling records in 2017. By comparison, year-over-year growth peaked at 18 percent during the winter of 2021.