The national median rent has fallen to its lowest level since 2022, with rents posting their sixth consecutive monthly decline in January alone—down 6.2 percent from their peak under the Biden administration.
“2026 is shaping up to be one of the more renter-friendly periods we’ve seen in a decade,” said luxury real estate broker Michelle Griffith. Major metropolitan areas including Los Angeles, Denver, Phoenix, and Pittsburgh report notable rental price reductions nationwide. In Los Angeles, rents have reached a four-year low, while Denver renters are experiencing the most affordable prices in at least nine years according to market data.
This decline coincides with broader affordability initiatives under President Trump’s administration. Americans are benefiting from multi-year-low gas prices, easing mortgage rates, tax refunds, and rising wages. The White House attributes part of this trend to stronger immigration enforcement, which has helped boost wages for American workers and reduce housing competition.
President Trump has directly targeted large corporate investors, emphasizing that “homes are for people, not corporations.” His administration has advanced reforms designed to curb Wall Street’s influence in the housing market while prioritizing families over institutional buyers. The affordability agenda also extends to prescription drug costs, further alleviating financial strain on working families and seniors.
President Trump has repeatedly stated that restoring the American Dream of homeownership remains a central goal, declaring, “Homes are built for people, not for corporations, and America will not become a nation of renters.”
