Apartments for rent in San Francisco.
For those who want to stay in major cities, the coronavirus pandemic has had one benefit: Rents have fallen in some areas.
That means it’s a great time to negotiate a lower monthly payment or snag a deal on a new apartment.
In October, the national rent index fell 0.4%, according to real estate data site Apartment List’s monthly report. While this is generally in line with how rents perform in the fall, it’s coming after apartment prices slumped from March to June, usually the fastest-growing months, according to the report. Across the board, rents nationally are now down 1.4% on the year.
There’s also a major difference depending on location, with rents falling fastest in large cities on the East and West Coasts, according to the report.