Cleveland leads U.S. in rising rent prices

By the numbers: The median asking rent in Cleveland was $1,360 last month, a 10.6% increase from November 2023.

Zoom out: Louisville was second among the 50 biggest metros with an increase of 10.2%, followed by Baltimore (9.4%) and Washington, D.C. (9.4%).

• Austin, Texas saw the biggest decrease at 11.3%, followed by Raleigh, North Carolina (8.4%) and Jacksonville (7.5%).

The big picture: The median asking rent across the U.S. fell 0.7% year-over-year to $1,595, the lowest since March 2022.

Go deeper: Why rents in Cleveland are so high