Trump administration wins on rent as prices plummet: new data

There is good news on the horizon for Americans seeking relief in the rental market, according to new data from Apartment List

by Summer Lane | February 2, 2026

The Trump administration rang in another win on Monday amid new data showing that the national median price of monthly rent has dropped to its lowest level since 2022, demonstrating a promising downward trend for Americans squeezed on pricing.

According to data from the Apartment List, the national median rent fell by 0.2 percent in January, marking the sixth consecutive month of decline and the lowest rent level in nearly four years.

Additionally, January 2026 is the lowest year-over-year rent growth recorded since August 2023, per their data.

“The progress reflects the early impacts of President Trump’s comprehensive approach to housing — increasing supply, reducing bureaucratic barriers, and empowering builders to meet demand,” the White House said in a press release.

Interestingly, Apartment List’s survey found that the largest driver behind “soft market conditions” for the past three years is “a historic surge of multifamily construction.”
Over 600,000 multifamily units went on the market in 2024, and another 500,000 in 2025.

“As a result of all this new inventory, more vacant units are sitting on the market, meaning that property owners face more competition for renters and have less pricing leverage,” the report noted.

The average rental unit is now sitting on the market for 41 days, whereas in 2021, the average turnover time on the market was 18 days.

Notably, a recent report from the U.S. Department of Housing and Urban Development found that a shocking two-thirds of the rental demand in the United States can be attributed to foreign-born populations, as reported by the Post Millennial.

“Immigration accounts for up to 100 percent of housing demand growth in some regions, and for two-thirds of rental demand growth nationwide,” the HUD report said. “In California and New York, immigrants have accounted for 100 percent of all rental growth and over one-half of all growth in owner-occupied housing in recent years.”

This phenomenon, doubtless driven by Joe Biden’s immigration catastrophe, is likely a primary driving factor behind the massive numbers of multifamily rental units cited in Apartment List’s report.

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