The Midwest is outpacing other regions when it comes to rent growth, according to the latest figures from online marketplace Apartment List.

After a few months of record-setting price declines, national rental demand is rebounding in line with the usual seasonal trend. Apartment List’s national rent index increased by 0.3 percent over the course of February, marking a return to positive rent growth after five straight month-over-month declines. But year-over-year rent growth is continuing to decelerate, and now stands at 3.0 percent, its lowest level since April 2021.

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