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

Families could finally catch a break on one of the biggest bills they may pay each month: the rent.

The sting of rent inflation hit tenants hard the past two years, due in part to record demand and not enough supply. The surge in monthly rent for a primary residence peaked in March 2023 at 8.8% higher than the year before, according to the Labor Department. Now the outlook for renters is improving on several fronts.