Why This Is a Good Year to Be a Renter, in Three Charts

Nearly a million apartments are being built nationwide and most of them will open in the next year, providing a breather for tenants. After a couple of years of record demand and not enough supply forcing rents up, now rents are falling and concessions are rising, giving tenants more bargaining power. The slew of new construction has turned the market around, making it easier to bargain on lease renewals, find deals and score extras like gym memberships, a free month of rent or waived security deposits.

Source: https://www.wsj.com/personal-finance/renting-in-america-charts-2024-d37b8ff8?mod=djem10point