Renters on a budget should look at these 27 cities where apartment prices are falling

This article initially appeared on Business Insider.

THE "year of THE American renter" East disabled has A strong to start — unless You are A owner.

Since online rent platform Zumper find that In January, THE going rate For A room apartment In THE WE was $1,496, And $1,847 For A two rooms facility. Those two The figures amended little Since last month.

To rent out East slightly below THE save levels together In September but remains upper that last January. Median Year after year to rent out growth rates This month were 0.3% For room apartments And 1.4% For apartments with two bedrooms, according to has Zumper. Room to rent out pink by less that 1% For THE fifth in a row month After rising For 12 consecutive month departure In October 2021.

Apartment prices to have has been led down by surging provide, Zumper note. New units are going up quickly through Regions following years In which request For rent units far exceeds supply.

"2023 was A save year For new provide through THE country, And THE several families industry will add even more inventory In 2024," At Zumper researchers wrote In their January to rent out report. "This leap In provide East GOOD news For tenants look For A agreement."

A more competitive rent walk is not it just conduct down prices. A lot tenants are NOW enjoy benefits that I will have has been unheard of of during THE pandemic, including renounced security deposits And A free month of to rent out, Zumper find. That orient yourself can continue as interest rates slide, which will likely bring home buyers back Since THE on the sidelines.

"The tenants to have more leverage RIGHT NOW that at any time In recent memory," said Anthemos Georgiades, THE CEO of Zumper, In A statement For THE report. "NOW East THE time has renegotiate existing leases Or score A agreement on A new apartment."

27 cities Or apartments are get a lot more affordable

Exactly half of THE high 100 rent markets In THE WE saw median apartment prices autumn Since 2023, according to has Zumper. However, those declines varied widely by region And were more significant In THE Sun Belt that In THE Midwest.

Below are 27 metropolitan areas Or THE going rent rate For A room apartment East has less 5% lower that he was last January, according to has Zumper. Along with each city are It is Year after year And month after month to rent out changes, average to rent out price, And national to rent out ranking among THE the biggest 100 WE real domain markets.

1. Scottsdale, Arizona

Scottsdale, Arizona. Tim Roberts Photography/Shutterstock via BI

Year after year to rent out change: -17.7%

Month after month to rent out change: -3.5%

Average to rent out: $1,670

National to rent out ranking: 24

Source: Zumper

2. Irving, Texas

Horizon of THE The ace Colinas area of Irving, Texas. iStock / Getty Pictures More via BI

Year after year to rent out change: -16.1%

Month after month to rent out change: -0.8%

Average to rent out: $1,250

National to rent out ranking: 61

Source: Zumper

3. Winston Salem, North Caroline

Winston-Salem, North Caroline. Halbergman/Getty Pictures via BI

Year after year to rent out change: -14.6%

Month after month to rent out change: -1.1%

Average to rent out: $880

National to rent out ranking: 92

Source: Zumper

4. Greensboro, North Caroline

Sean Pavone/Shutterstock via BI