Zumper's national rent report of June 2022 shows that the absurd price hikes in the American real estate market are slowing down.

One-bedroom median rents are up 0.5 percent, but their growth pace has slowed down since pandemic heights.

Key Takeaways:

• New York, NY, is still America's costliest city to rent in, where the median rent for a 1-bedroom flat is $3,600 — a 40 percent increase since last year.

• Two-bedroom rents have dropped, which may suggest that prospective homeowners are making purchases rather than leasing.

• The market in Miami, FL, which had erupted over the past few years, has began to cool as the city's 1-bedroom median rent prices dropped two spots in the top 10 list.

• Median 1-bedroom rents in Tallahassee (FL), Anchorage (AK), Urban Honolulu (HI), San Diego (CA) and Syracuse (NY) fell the most in June, whereas Norfolk (VA), Fresno (CA), Chicago (IL), El Paso (TX) and Henderson (NV) had the highest increases.

Via Zumper.

[Photo by Lerone Pieters on Unsplash]