Out-of-Market Renters Drive Shifts in Major Metro Rental Demand
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News Corporation's October Rental Report reveals a 1.7% year-over-year decline in national median rent to $1,696, marking 27 months of decreases. The report highlights a trend of renters moving to different metro areas due to affordability and remote work, with cities like Raleigh, Hartford, and Richmond attracting more out-of-market renters. This shift indicates changing renter priorities and the appeal of cities with lower rents and flexible living options.
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