Apartment Rents Fall for Third Straight Month as Sun Belt Surge Eases

Of the nation’s top 40 markets, only Palm Beach, Fla., held its grip on rising rents in October, according to Apartments.com. All others saw no growth or declines, as the Sun Belt is no longer on fire for rent prices. Miami and Orlando are still number one and two for year-over-year growth at 9.2 and 8.4 percent, respectively, but they’re starting to flicker. In a turnaround, it appears supply is starting to outpace demand in many formerly hot markets, and some cities in the Midwest, like Indianapolis, are starting to inch into the top 10 markets for rent growth. https://www.orionprop.com/topfive/apartment-rents-fall-for-third-straight-month-as-sun-belt-surge-eases/