Rents Rebound in AI Hubs and Affordable Alternatives: Realtor.com® September Rent Report

September saw the slowest pace of decline in three years as today's rental market is being shaped by three powerful forces, the cooling of the supply wave in the Sun Belt, renters moving to more affordable alternatives, and AI-driven job growth in the Bay Area. According to the Realtor.com® September 2026 Rent Report, the median asking rent for studio, one- and two-bedroom properties across the 50 largest U.S. metropolitan areas fell 0.4% year over year to $1,694.