In January 2026, U.S. median rents for 0-2 bedroom units in the 50 largest metros fell 1.5% year-over-year to $1,672, marking the 29th consecutive monthly decline. Vacancy rates rose to 7.6%, favoring renters, with 22 metros renter-friendly, 22 balanced, and 6 landlord-friendly. Sun Belt markets showed high vacancies, while some affordable, job-rich areas saw tighter conditions and rising rents.
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