Steven Neman for House of Leon

Where rent is dropping fastest in 2025

After years of relentless rent hikes across the United States, 2025 is finally bringing relief to renters in many markets. A surge in new apartment construction, coupled with pro-housing reforms in select cities, is pushing vacancy rates higher and driving rental prices down at a pace not seen in more than a decade. From booming metros like Austin and Minneapolis to smaller markets such as Sarasota and Athens, rents are falling sharply—sometimes by double digits—reshaping the housing affordability landscape. House of Leon shares a closer look at where rent is dropping fastest in 2025, and what’s fueling the trend.

1. Sarasota, Florida — the standout case

Sarasota takes the top spot in rent declines across the U.S.—

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