According to real estate technology site RealPage, U.S. apartment rents have cooled considerably over the past several months.
This past August, the national average rent only increased .28% year-over-year.
Likewise, new apartment development is at a 50-year high, with more than 460,000 units hitting the market this year alone.
With this influx of new apartment options for renters, rents are expected to keep going down in turn.
