A report released earlier this year by Realtor.com revealed that the median asking rent prices in the 50 largest metropolitan areas were down 0.2% annually in January. The Rental Market Competitiveness Report from RentCafe shared that the number of available apartments slightly went up, by 0.75%, at the start of the year. However, there still aren’t enough units to meet demand, with seven tenants competing for every vacancy, which contributes to a high cost of living. 

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