For the first time in nearly two years, the national median rent price saw a year-on-year decline, according to Rent.com, which reported a 0.57% drop in May rent prices.
The national median rent price now sits at $1,995, tumbling from a peak of $2,053 in August 2022.
According to Quotewizard.com, location can play a role in how much a renters insurance policy costs. For example, areas with lower crime rates and those with less of a risk of natural catastrophes tend to see lower rates.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
