{"success":true,"data":{"pressRelease":{"id":"87376","rtpr_id":"nPn8Byb0sa","ticker":"NWSA","exchange":"NASDAQ","all_tickers":["NWSA"],"title":"Some Cities Are Building Their Way to Lower Rent. Others Are Falling Behind: Realtor.com June 2026 Rent Report","author":"PR Newswire","published_at":"2026-07-14T10:00:02.859Z","article_body":"Some Cities Are Building Their Way to Lower Rent. Others Are Falling Behind: Realtor.com June 2026 Rent Report\n\nPR Newswire\n\nAUSTIN, Texas, July 14, 2026\n\nNew York and Boston Are Building at Their Slowest Pace Since 2019, While\nFlorida and Columbus, Ohio Build Fastest\n\nAUSTIN, Texas, July 14, 2026 /PRNewswire/ -- The median asking monthly rent\nacross the 50 largest metros fell to $1,692 in June, down 1.5%, or $25, from a\nyear ago. The drop marked the 35th straight month of year-over-year declines,\nas a multiyear multifamily construction boom continues to outpace demand\nnationally, according to the Realtor.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=3506374054&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=Realtor.com)\n(®)\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=95588279&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=%C2%AE)\n June 2026 Rent Report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=1732163123&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=%C2%A0June+2026+Rent+Report)\n. Which metros see the most relief next may hinge on where permitting and\nconstruction are happening now, and that activity is diverging sharply by\nmarket.\n\n\"This didn't happen by accident. Builders spent years playing catch-up after\nthe pandemic rent spike, and that supply is why rents have fallen for nearly\nthree years straight,\" said Jiayi Xu, Economist at Realtor.com(®). \"Now it\ncomes down to geography: cities like Columbus, Ohio and Orlando are ramping up\nconstruction and are set up for more relief, while places like New York and\nBoston pulled back, which may raise concerns about the affordability path\nahead.\"\n\nThe median asking monthly rent is now $72 (-4.1%) below its 2022 peak, though\nstill $238 (+16.4%) above pre-pandemic levels. A typical seasonal bump is\nlikely this summer, but with new construction still running through the\npipeline in many markets, Realtor.com(®) expects year-over-year declines, and\nrent relief, to continue through 2026.\n National Monthly Rents by Unit Size, June 2026\n Unit Size Median Rent Rent YoY Consecutive Total Decline Rent Change -\n Months of from Peak 7 Years\n Decline\n Overall $1,692 -1.5 % 35 -4.1 % 16.4 %\n Studio $1,422 -2.2 % 34 -4.3 % 15.0 %\n 1-Bedroom $1,579 -1.4 % 37 -4.9 % 15.9 %\n 2-Bedroom $1,893 -1.4 % 37 -3.8 % 18.5 %\n\nWhere that relief shows up next depends on what gets built. Nationally,\n302,730 multifamily units were permitted in 2025, up 1.9% from 2024 but still\n13.1% below 2019 and 34.4% below the 2022 peak.\n\nNew York and Boston, both grappling with high-profile rent control fights this\nyear, are building at their slowest pace since 2019. New York permitted just\n1.6 new multifamily units per 1,000 residents in 2025, down from 2.3 in 2019,\nand Boston permitted 1.1, down from 2.0 in 2019.\n\nNew York City's Rent Guidelines Board approved a rent freeze this year\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=543555784&u=https%3A%2F%2Fwww.realtor.com%2Fnews%2Freal-estate-news%2Fnyc-rent-freeze-passes%2F&a=New+York+City%27s+Rent+Guidelines+Board+approved+a+rent+freeze+this+year)\n, and Massachusetts' supreme judicial court struck down a statewide rent\ncontrol initiative, keeping it off the November ballot.\n\n\"It's interesting to see how differently policymakers approach rent\nregulation. Rent control and rent freezes can protect the renters already in a\nunit, but they don't do anything to bring the market rate down for everyone\nelse,\" Xu said. \"Sustainably lower rent comes from more supply, and right now\nthat effort looks very different from city to city.\"\n Markets at Their Lowest Permit Rate Since 2019\n Market Permit Permit Permit Permit Permit Permit Permit\n Rate, Rate, Rate, Rate, Rate, Rate, Rate,\n 2019 2020 2021 2022 2023 2024 2025\n Austin-Round Rock-San 5.9 8.4 10.8 9.1 8.7 5.9 4.5\n Marcos, TX\n Charlotte-Concord- 3.1 2.5 3.4 2.9 3.6 2.4 2.0\n Gastonia, NC-SC\n Seattle-Tacoma- 4.1 3.2 5.1 4.5 2.4 2.4 2.0\n Bellevue, WA\n New York-Newark-Jersey 2.3 2.1 2.1 2.8 2.4 2.1 1.6\n City, NY-NJ\n Washington-Arlington- 2.2 1.8 2.2 3.8 2.0 1.5 1.1\n Alexandria, DC-VA-MD-WV\n Boston-Cambridge- 2.0 1.8 2.2 1.8 1.3 1.4 1.1\n Newton, MA-NH\n\nOn the other end of the spectrum, Columbus is building at its fastest pace\nsince 2019, boosted in part by its \"Zone In\" zoning reform, expected to enable\nup to 88,000 new homes over the next decade. Florida is also building back:\nafter pulling back in 2024, permitting rebounded in 2025 to 4.5 units per\n1,000 residents in Orlando and 2.6 in Miami, both near their 2021 peaks.\n\nSan Jose posted a similar rebound in permitting, but its rent tells a\ndifferent story: the market's median asking rent hit $3,423 in June, the\nhighest in Realtor.com(®)'s data history dating back to March 2019, up 3.3%\nyear over year as demand driven by income from the AI boom in the Bay Area\ncontinues to outpace new supply.\n\nLas Vegas also hit its highest rate since 2019, though that looks more like a\nrebound from a 2024 dip than a new high. Cleveland, Oklahoma City, Providence,\nR.I., and Birmingham, Ala., are a different story: each has historically built\nvery little, but all four are now climbing from an unusually low base, a sign\nthat even long-stagnant markets could start giving renters more options.\n Markets at Their Highest Permit Rate Since 2019\n Market Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate,\n 2019 2020 2021 2022 2023 2024 2025\n Columbus, OH 1.6 3.1 2.4 2.9 2.6 3.4 4.3\n Las Vegas- 1.6 1.3 1.5 1.5 1.2 1.0 1.9\n Henderson-North Las Vegas, NV\n Oklahoma City, OK 0.2 0.2 0.1 0.3 0.3 0.8 0.9\n Birmingham, AL 0.1 0.3 0.5 0.8 0.3 0.5 0.9\n Providence-Warwick, 0.1 0.1 0.1 0.2 0.3 0.5 0.7\n RI-MA\n Cleveland, OH 0.1 0.2 0.1 0.3 0.4 0.5 0.6\n\nTaken together, the data points to a market still finding its footing:\nnational rent relief is real and likely to continue through 2026, but it will\nnot be felt evenly. Renters in metros with strong permitting pipelines, like\nColumbus and much of Florida, are best positioned to see that relief continue.\nRenters in slower-building metros, including New York, may find that\nregulation offers protection but not the broader relief that comes from more\nsupply.\n Appendix: Rental Data – 50 Largest Metropolitan Areas – June 2026\n Market Median Asking Rent YOY Multifamily units\n permitted per 1,000\n residents (2025)\n Atlanta-Sandy Springs-Roswell, GA $1,561 -3.2 % 1.7\n Austin-Round Rock-San Marcos, TX $1,371 -4.3 % 4.5\n Baltimore-Columbia-Towson, MD $1,835 0.7 % 0.8\n Birmingham, AL $1,202 -1.2 % 0.9\n Boston-Cambridge-Newton, MA-NH $2,930 -4.1 % 1.1\n Buffalo-Cheektowaga, NY NA NA 0.4\n Charlotte-Concord-Gastonia, NC-SC $1,495 -2.5 % 2.0\n Chicago-Naperville-Elgin, IL-IN $1,833 1.3 % 0.6\n Cincinnati, OH-KY-IN $1,326 0.0 % 1.1\n Cleveland, OH $1,204 -1.0 % 0.6\n Columbus, OH $1,180 -1.5 % 4.3\n Dallas-Fort Worth-Arlington, TX $1,461 -2.7 % 2.9\n Denver-Aurora-Centennial, CO $1,770 -3.1 % 2.6\n Detroit-Warren-Dearborn, MI $1,256 -3.0 % 0.7\n Hartford-West Hartford-East Hartford, NA NA 0.8\n CT\n Houston-Pasadena-The Woodlands, TX $1,381 -2.8 % 2.1\n Indianapolis-Carmel-Greenwood, IN $1,270 -1.7 % 0.9\n Jacksonville, FL $1,478 -2.3 % 2.1\n Kansas City, MO-KS $1,431 1.6 % 1.9\n Las Vegas-Henderson-North Las $1,456 -1.8 % 1.9\n Vegas, NV\n Los Angeles-Long Beach-Anaheim, CA $2,776 -1.7 % 1.0\n Louisville/Jefferson County, KY-IN $1,219 -2.2 % 1.7\n Memphis, TN-MS-AR $1,112 -4.2 % 0.1\n Miami-Fort Lauderdale-West Palm Beach, FL $2,277 -2.6 % 2.6\n Milwaukee-Waukesha, WI $1,722 0.3 % 0.7\n Minneapolis-St. Paul-Bloomington, MN- $1,513 0.1 % 1.4\n WI\n Nashville-Davidson--Murfreesboro-- $1,479 -5.3 % 2.6\n Franklin, TN\n New Orleans-Metairie, LA $1,155 -8.0 % 0.3\n New York-Newark-Jersey City, NY-NJ $2,968 1.7 % 1.6\n Oklahoma City, OK $920 -2.1 % 0.9\n Orlando-Kissimmee-Sanford, FL $1,683 -1.9 % 4.5\n Philadelphia-Camden-Wilmington, PA- $1,749 -1.8 % 0.8\n NJ-DE-MD\n Phoenix-Mesa-Chandler, AZ $1,433 -4.2 % 2.8\n Pittsburgh, PA $1,458 2.8 % 0.9\n Portland-Vancouver-Hillsboro, OR-WA $1,603 -1.5 % 0.8\n Providence-Warwick, RI-MA NA NA 0.7\n Raleigh-Cary, NC $1,434 -2.5 % 3.5\n Richmond, VA $1,525 -0.9 % 3.1\n Riverside-San Bernardino-Ontario, CA $2,055 -2.6 % 1.1\n Rochester, NY NA NA 0.4\n Sacramento-Roseville-Folsom, CA $1,829 -1.5 % 1.0\n St. Louis, MO-IL $1,292 -1.4 % 0.5\n San Antonio-New Braunfels, TX $1,159 -4.8 % 0.7\n San Diego-Chula Vista-Carlsbad, CA $2,675 -2.8 % 2.2\n San Francisco-Oakland-Fremont, CA $2,907 1.9 % 1.1\n San Jose-Sunnyvale-Santa Clara, CA $3,423 3.3 % 1.8\n Seattle-Tacoma-Bellevue, WA $1,880 -1.1 % 2.0\n Tampa-St. Petersburg-Clearwater, FL $1,638 -5.0 % 2.6\n Virginia Beach-Chesapeake-Norfolk, $1,581 2.0 % 0.4\n VA-NC\n Washington-Arlington-Alexandria, DC- $2,293 -2.3 % 1.1\n VA-MD-WV\n\nMethodology\nRental data as of June 2026 for studio, 1-bedroom, or 2-bedroom units\nadvertised for rent on Realtor.com(®). Rental units include apartments as\nwell as private rentals (condos, townhomes, single-family homes). We use\nrental sources that reliably report data each month within the 50 largest\nmetropolitan areas. Realtor.com(®) began publishing regular monthly rental\ntrends reports in October 2020 with data history stretching to March 2019.\n\nBuilding permit data is sourced from Building Permits Survey (BPS)\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=3544333964&u=https%3A%2F%2Fwww.census.gov%2Fconstruction%2Fbps%2Findex.html&a=Building+Permits+Survey+(BPS))\n. Metro level population is obtained from Moody's estimates.\n\nAbout Realtor.com(®\n)For over 30 years, Realtor.com(® )has connected buyers, sellers, and renters\nwith trusted insights, professional guidance and powerful tools to help them\nfind their perfect home. Recognized as the No. 1 real estate site REALTOR®\nagents recommend, Realtor.com(®) delivers consumer connections and a robust\nsuite of marketing tools to support business growth. Realtor.com(®) is\noperated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,\nInc.\n\nMedia contact: Emily Do, press@realtor.com (mailto:press@realtor.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/some-cities-are-building-their-way-to-lower-rent-others-are-falling-behind-realtorcom-june-2026-rent-report-302824231.html\n(https://www.prnewswire.com/news-releases/some-cities-are-building-their-way-to-lower-rent-others-are-falling-behind-realtorcom-june-2026-rent-report-302824231.html)\n\nSOURCE Realtor.com\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn8Byb0sa","title":"Some Cities Are Building Their Way to Lower Rent. Others Are Falling Behind: Realtor.com June 2026 Rent Report","author":"PR Newswire","ticker":"NWSA","created":"2026-07-14T10:00:02.859Z","tickers":["NWSA"],"exchange":"NASDAQ","article_body":"Some Cities Are Building Their Way to Lower Rent. Others Are Falling Behind: Realtor.com June 2026 Rent Report\n\nPR Newswire\n\nAUSTIN, Texas, July 14, 2026\n\nNew York and Boston Are Building at Their Slowest Pace Since 2019, While\nFlorida and Columbus, Ohio Build Fastest\n\nAUSTIN, Texas, July 14, 2026 /PRNewswire/ -- The median asking monthly rent\nacross the 50 largest metros fell to $1,692 in June, down 1.5%, or $25, from a\nyear ago. The drop marked the 35th straight month of year-over-year declines,\nas a multiyear multifamily construction boom continues to outpace demand\nnationally, according to the Realtor.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=3506374054&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=Realtor.com)\n(®)\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=95588279&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=%C2%AE)\n June 2026 Rent Report\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=1732163123&u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fjune-2026-rent%2F&a=%C2%A0June+2026+Rent+Report)\n. Which metros see the most relief next may hinge on where permitting and\nconstruction are happening now, and that activity is diverging sharply by\nmarket.\n\n\"This didn't happen by accident. Builders spent years playing catch-up after\nthe pandemic rent spike, and that supply is why rents have fallen for nearly\nthree years straight,\" said Jiayi Xu, Economist at Realtor.com(®). \"Now it\ncomes down to geography: cities like Columbus, Ohio and Orlando are ramping up\nconstruction and are set up for more relief, while places like New York and\nBoston pulled back, which may raise concerns about the affordability path\nahead.\"\n\nThe median asking monthly rent is now $72 (-4.1%) below its 2022 peak, though\nstill $238 (+16.4%) above pre-pandemic levels. A typical seasonal bump is\nlikely this summer, but with new construction still running through the\npipeline in many markets, Realtor.com(®) expects year-over-year declines, and\nrent relief, to continue through 2026.\n National Monthly Rents by Unit Size, June 2026\n Unit Size Median Rent Rent YoY Consecutive Total Decline Rent Change -\n Months of from Peak 7 Years\n Decline\n Overall $1,692 -1.5 % 35 -4.1 % 16.4 %\n Studio $1,422 -2.2 % 34 -4.3 % 15.0 %\n 1-Bedroom $1,579 -1.4 % 37 -4.9 % 15.9 %\n 2-Bedroom $1,893 -1.4 % 37 -3.8 % 18.5 %\n\nWhere that relief shows up next depends on what gets built. Nationally,\n302,730 multifamily units were permitted in 2025, up 1.9% from 2024 but still\n13.1% below 2019 and 34.4% below the 2022 peak.\n\nNew York and Boston, both grappling with high-profile rent control fights this\nyear, are building at their slowest pace since 2019. New York permitted just\n1.6 new multifamily units per 1,000 residents in 2025, down from 2.3 in 2019,\nand Boston permitted 1.1, down from 2.0 in 2019.\n\nNew York City's Rent Guidelines Board approved a rent freeze this year\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=543555784&u=https%3A%2F%2Fwww.realtor.com%2Fnews%2Freal-estate-news%2Fnyc-rent-freeze-passes%2F&a=New+York+City%27s+Rent+Guidelines+Board+approved+a+rent+freeze+this+year)\n, and Massachusetts' supreme judicial court struck down a statewide rent\ncontrol initiative, keeping it off the November ballot.\n\n\"It's interesting to see how differently policymakers approach rent\nregulation. Rent control and rent freezes can protect the renters already in a\nunit, but they don't do anything to bring the market rate down for everyone\nelse,\" Xu said. \"Sustainably lower rent comes from more supply, and right now\nthat effort looks very different from city to city.\"\n Markets at Their Lowest Permit Rate Since 2019\n Market Permit Permit Permit Permit Permit Permit Permit\n Rate, Rate, Rate, Rate, Rate, Rate, Rate,\n 2019 2020 2021 2022 2023 2024 2025\n Austin-Round Rock-San 5.9 8.4 10.8 9.1 8.7 5.9 4.5\n Marcos, TX\n Charlotte-Concord- 3.1 2.5 3.4 2.9 3.6 2.4 2.0\n Gastonia, NC-SC\n Seattle-Tacoma- 4.1 3.2 5.1 4.5 2.4 2.4 2.0\n Bellevue, WA\n New York-Newark-Jersey 2.3 2.1 2.1 2.8 2.4 2.1 1.6\n City, NY-NJ\n Washington-Arlington- 2.2 1.8 2.2 3.8 2.0 1.5 1.1\n Alexandria, DC-VA-MD-WV\n Boston-Cambridge- 2.0 1.8 2.2 1.8 1.3 1.4 1.1\n Newton, MA-NH\n\nOn the other end of the spectrum, Columbus is building at its fastest pace\nsince 2019, boosted in part by its \"Zone In\" zoning reform, expected to enable\nup to 88,000 new homes over the next decade. Florida is also building back:\nafter pulling back in 2024, permitting rebounded in 2025 to 4.5 units per\n1,000 residents in Orlando and 2.6 in Miami, both near their 2021 peaks.\n\nSan Jose posted a similar rebound in permitting, but its rent tells a\ndifferent story: the market's median asking rent hit $3,423 in June, the\nhighest in Realtor.com(®)'s data history dating back to March 2019, up 3.3%\nyear over year as demand driven by income from the AI boom in the Bay Area\ncontinues to outpace new supply.\n\nLas Vegas also hit its highest rate since 2019, though that looks more like a\nrebound from a 2024 dip than a new high. Cleveland, Oklahoma City, Providence,\nR.I., and Birmingham, Ala., are a different story: each has historically built\nvery little, but all four are now climbing from an unusually low base, a sign\nthat even long-stagnant markets could start giving renters more options.\n Markets at Their Highest Permit Rate Since 2019\n Market Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate, Permit Rate,\n 2019 2020 2021 2022 2023 2024 2025\n Columbus, OH 1.6 3.1 2.4 2.9 2.6 3.4 4.3\n Las Vegas- 1.6 1.3 1.5 1.5 1.2 1.0 1.9\n Henderson-North Las Vegas, NV\n Oklahoma City, OK 0.2 0.2 0.1 0.3 0.3 0.8 0.9\n Birmingham, AL 0.1 0.3 0.5 0.8 0.3 0.5 0.9\n Providence-Warwick, 0.1 0.1 0.1 0.2 0.3 0.5 0.7\n RI-MA\n Cleveland, OH 0.1 0.2 0.1 0.3 0.4 0.5 0.6\n\nTaken together, the data points to a market still finding its footing:\nnational rent relief is real and likely to continue through 2026, but it will\nnot be felt evenly. Renters in metros with strong permitting pipelines, like\nColumbus and much of Florida, are best positioned to see that relief continue.\nRenters in slower-building metros, including New York, may find that\nregulation offers protection but not the broader relief that comes from more\nsupply.\n Appendix: Rental Data – 50 Largest Metropolitan Areas – June 2026\n Market Median Asking Rent YOY Multifamily units\n permitted per 1,000\n residents (2025)\n Atlanta-Sandy Springs-Roswell, GA $1,561 -3.2 % 1.7\n Austin-Round Rock-San Marcos, TX $1,371 -4.3 % 4.5\n Baltimore-Columbia-Towson, MD $1,835 0.7 % 0.8\n Birmingham, AL $1,202 -1.2 % 0.9\n Boston-Cambridge-Newton, MA-NH $2,930 -4.1 % 1.1\n Buffalo-Cheektowaga, NY NA NA 0.4\n Charlotte-Concord-Gastonia, NC-SC $1,495 -2.5 % 2.0\n Chicago-Naperville-Elgin, IL-IN $1,833 1.3 % 0.6\n Cincinnati, OH-KY-IN $1,326 0.0 % 1.1\n Cleveland, OH $1,204 -1.0 % 0.6\n Columbus, OH $1,180 -1.5 % 4.3\n Dallas-Fort Worth-Arlington, TX $1,461 -2.7 % 2.9\n Denver-Aurora-Centennial, CO $1,770 -3.1 % 2.6\n Detroit-Warren-Dearborn, MI $1,256 -3.0 % 0.7\n Hartford-West Hartford-East Hartford, NA NA 0.8\n CT\n Houston-Pasadena-The Woodlands, TX $1,381 -2.8 % 2.1\n Indianapolis-Carmel-Greenwood, IN $1,270 -1.7 % 0.9\n Jacksonville, FL $1,478 -2.3 % 2.1\n Kansas City, MO-KS $1,431 1.6 % 1.9\n Las Vegas-Henderson-North Las $1,456 -1.8 % 1.9\n Vegas, NV\n Los Angeles-Long Beach-Anaheim, CA $2,776 -1.7 % 1.0\n Louisville/Jefferson County, KY-IN $1,219 -2.2 % 1.7\n Memphis, TN-MS-AR $1,112 -4.2 % 0.1\n Miami-Fort Lauderdale-West Palm Beach, FL $2,277 -2.6 % 2.6\n Milwaukee-Waukesha, WI $1,722 0.3 % 0.7\n Minneapolis-St. Paul-Bloomington, MN- $1,513 0.1 % 1.4\n WI\n Nashville-Davidson--Murfreesboro-- $1,479 -5.3 % 2.6\n Franklin, TN\n New Orleans-Metairie, LA $1,155 -8.0 % 0.3\n New York-Newark-Jersey City, NY-NJ $2,968 1.7 % 1.6\n Oklahoma City, OK $920 -2.1 % 0.9\n Orlando-Kissimmee-Sanford, FL $1,683 -1.9 % 4.5\n Philadelphia-Camden-Wilmington, PA- $1,749 -1.8 % 0.8\n NJ-DE-MD\n Phoenix-Mesa-Chandler, AZ $1,433 -4.2 % 2.8\n Pittsburgh, PA $1,458 2.8 % 0.9\n Portland-Vancouver-Hillsboro, OR-WA $1,603 -1.5 % 0.8\n Providence-Warwick, RI-MA NA NA 0.7\n Raleigh-Cary, NC $1,434 -2.5 % 3.5\n Richmond, VA $1,525 -0.9 % 3.1\n Riverside-San Bernardino-Ontario, CA $2,055 -2.6 % 1.1\n Rochester, NY NA NA 0.4\n Sacramento-Roseville-Folsom, CA $1,829 -1.5 % 1.0\n St. Louis, MO-IL $1,292 -1.4 % 0.5\n San Antonio-New Braunfels, TX $1,159 -4.8 % 0.7\n San Diego-Chula Vista-Carlsbad, CA $2,675 -2.8 % 2.2\n San Francisco-Oakland-Fremont, CA $2,907 1.9 % 1.1\n San Jose-Sunnyvale-Santa Clara, CA $3,423 3.3 % 1.8\n Seattle-Tacoma-Bellevue, WA $1,880 -1.1 % 2.0\n Tampa-St. Petersburg-Clearwater, FL $1,638 -5.0 % 2.6\n Virginia Beach-Chesapeake-Norfolk, $1,581 2.0 % 0.4\n VA-NC\n Washington-Arlington-Alexandria, DC- $2,293 -2.3 % 1.1\n VA-MD-WV\n\nMethodology\nRental data as of June 2026 for studio, 1-bedroom, or 2-bedroom units\nadvertised for rent on Realtor.com(®). Rental units include apartments as\nwell as private rentals (condos, townhomes, single-family homes). We use\nrental sources that reliably report data each month within the 50 largest\nmetropolitan areas. Realtor.com(®) began publishing regular monthly rental\ntrends reports in October 2020 with data history stretching to March 2019.\n\nBuilding permit data is sourced from Building Permits Survey (BPS)\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4730552-1&h=3544333964&u=https%3A%2F%2Fwww.census.gov%2Fconstruction%2Fbps%2Findex.html&a=Building+Permits+Survey+(BPS))\n. Metro level population is obtained from Moody's estimates.\n\nAbout Realtor.com(®\n)For over 30 years, Realtor.com(® )has connected buyers, sellers, and renters\nwith trusted insights, professional guidance and powerful tools to help them\nfind their perfect home. Recognized as the No. 1 real estate site REALTOR®\nagents recommend, Realtor.com(®) delivers consumer connections and a robust\nsuite of marketing tools to support business growth. Realtor.com(®) is\noperated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,\nInc.\n\nMedia contact: Emily Do, press@realtor.com (mailto:press@realtor.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/some-cities-are-building-their-way-to-lower-rent-others-are-falling-behind-realtorcom-june-2026-rent-report-302824231.html\n(https://www.prnewswire.com/news-releases/some-cities-are-building-their-way-to-lower-rent-others-are-falling-behind-realtorcom-june-2026-rent-report-302824231.html)\n\nSOURCE Realtor.com\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-07-14T10:00:02.944381278Z","server_sent_at_ms":1784023202944},"received_at":"2026-07-14T10:00:02.997Z","source_url":"https://www.prnewswire.com/news-releases/some-cities-are-building-their-way-to-lower-rent-others-are-falling-behind-realtorcom-june-2026-rent-report-302824231.html"},"analysis":{"id":"76425","press_release_id":"87376","analysis_json":{"industry":{"label":"Media","sector":"Communication Services"},"redFlags":[],"eventType":"other","narrative":"Realtor.com's June 2026 Rent Report indicates the median asking rent in the top 50 U.S. metros fell to $1,692, marking the 35th consecutive month of year-over-year declines as construction outpaces demand.\n\nThe report highlights a sharp divergence in construction activity, with cities like Columbus and Orlando ramping up permitting while New York and Boston have slowed to their lowest pace since 2019.\n\nRealtor.com forecasts that rent relief will continue through 2026, particularly in markets with robust permitting pipelines, while regulatory constraints in slower-building metros may impede affordability improvements.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Monthly macro research report published by subsidiary; no material company-specific impact."},"keyFigures":{"customDimensions":{"rent_yoy_change":"-1.5%","san_jose_rent_yoy":"3.3%","months_yoy_decline":35,"median_rent_national":"$1,692","san_jose_median_rent":"$3,423","multifamily_permits_2025":302730}},"quotedText":"This didn't happen by accident. Builders spent years playing catch-up after the pandemic rent spike, and that supply is why rents have fallen for nearly three years straight","namedEntities":{"people":[{"name":"Jiayi Xu","role":"Economist"}],"products":["Realtor.com"],"companies":[{"name":"Realtor.com","relationship":"subsidiary"},{"name":"News Corp","ticker":"NWS","relationship":"parent company"},{"name":"Move, Inc.","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$1,692","context":"median asking monthly rent in June across 50 largest metros"},{"amount":"$25","context":"year-over-year decline in median rent"},{"amount":"$72","context":"difference from 2022 peak"},{"amount":"$238","context":"increase from pre-pandemic levels"},{"amount":"$3,423","context":"median asking rent in San Jose (highest in data history)"}]},"materialImpact":{"score":1,"reasoning":"This is a routine monthly market research report from a subsidiary (Realtor.com). It does not disclose specific financial results, guidance, or material corporate actions for News Corp that would impact the stock price."},"tickerRelevance":{"others":[{"ticker":"NWS","relevance":"parent company"},{"ticker":"NWSLV","relevance":"parent company listing"}],"primary":"NWSA"},"globalImportance":25,"audienceRelevance":40,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large_cap","eventGravity":"monthly_macro_report","sectorWeight":"housing_market"}},"event_type":"other","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Realtor.com's June 2026 Rent Report indicates the median asking rent in the top 50 U.S. metros fell to $1,692, marking the 35th consecutive month of year-over-year declines as construction outpaces demand.\n\nThe report highlights a sharp divergence in construction activity, with cities like Columbus and Orlando ramping up permitting while New York and Boston have slowed to their lowest pace since 2019.\n\nRealtor.com forecasts that rent relief will continue through 2026, particularly in markets with robust permitting pipelines, while regulatory constraints in slower-building metros may impede affordability improvements.","key_figures":{"customDimensions":{"rent_yoy_change":"-1.5%","san_jose_rent_yoy":"3.3%","months_yoy_decline":35,"median_rent_national":"$1,692","san_jose_median_rent":"$3,423","multifamily_permits_2025":302730}},"named_entities":{"people":[{"name":"Jiayi Xu","role":"Economist"}],"products":["Realtor.com"],"companies":[{"name":"Realtor.com","relationship":"subsidiary"},{"name":"News Corp","ticker":"NWS","relationship":"parent company"},{"name":"Move, Inc.","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$1,692","context":"median asking monthly rent in June across 50 largest metros"},{"amount":"$25","context":"year-over-year decline in median rent"},{"amount":"$72","context":"difference from 2022 peak"},{"amount":"$238","context":"increase from pre-pandemic levels"},{"amount":"$3,423","context":"median asking rent in San Jose (highest in data history)"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-14T10:06:29.191Z","global_importance":25,"audience_relevance":40,"importance_components":{"tickerTier":"large_cap","eventGravity":"monthly_macro_report","sectorWeight":"housing_market"}},"durationMs":121506,"modelName":"glm-4.7"}}