60 of the 100 largest U.S. cities now negative rent growth

[Justin Goodin]

60 of the 100 largest U.S. cities now negative rent growth, according to Apartment List.

Here's the list:

1. Oakland, CA -9.3%
2. Huntsville, AL -5.7%
3. Atlanta, GA -5.6%
4. Austin, TX -5.4%
5. Portland, OR -5.4%
6. St. Louis, MO -5.4%
7. San Francisco, CA -5.2%
8. Phoenix, AZ -5.0%
9. Boise, ID -4.9%
10. Reno, NV -4.6%
11. Corpus Christi, TX -4.5%
12. Long Beach, CA -4.3%
13. Orlando, FL -4.3%
14. Jacksonville, FL -4.2%
15. Nashville, TN -4.2%
16. Raleigh, NC -4.0%
17. Los Angeles, CA -3.8%
18. Irving, TX -3.7%
19. Mesa, AZ -3.7%
20. Gilbert, AZ -3.6%
21. Chandler, AZ -3.5%
22. Glendale, AZ -3.5%
23. Sacramento, CA -3.3%
24. Colorado Springs, CO -3.3%
25. San Antonio, TX -3.1%
26. Scottsdale, AZ -3.0%
27. Plano, TX -2.7%
28. Fort Worth, TX -2.7%
29. Riverside, CA -2.5%
30. Charlotte, NC -2.5%
31. San Diego, CA -2.4%
32. Dallas, TX -2.0%
33. Tacoma, WA -1.8%
34. Fremont, CA -1.8%
35. Yonkers, NY -1.7%
36. Cleveland, OH -1.7%
37. Miami, FL -1.6%
38. Spring Valley, NV -1.6%
39. North Las Vegas, NV -1.5%
40. Richmond, VA -1.5%
41. Las Vegas, NV -1.4%
42. San Jose, CA -1.1%
43. Denver, CO -1.1%
44. St. Petersburg, FL -1.1%
45. Pittsburgh, PA -1.0%
46. Des Moines, IA -0.9%
47. New Orleans, LA -0.9%
48. St. Paul, MN -0.9%
49. Albuquerque, NM -0.8%
50. Durham, NC -0.7%
51. Henderson, NV -0.5%
52. Houston, TX -0.5%
53. Memphis, TN -0.5%
54. Chula Vista, CA -0.5%
55. Seattle, WA -0.5%
56. Tampa, FL -0.4%
57. Winston-Salem, NC -0.4%
58. Minneapolis, MN -0.3%
59. Columbus, OH -0.2%
60. Enterprise, NV -0.1%

In 2023, many cities that saw rents skyrocket early in the pandemic are cheaper today than they were one year ago, according to Apartment List.

I thought this was an interesting article. Here is the link to the article if anyone wants to read. 

[Nina Soden]

I've seen rental prices drop slightly in the Huntsville area where I live. I think a lot of it has to do with the large number of apartment complexes going up. Individual houses are having a hard time competing with the massive complexes that offer club houses, gyms, pools, walking trails, etc.