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With vacancy rates inching upwards, Greater Hartford has become a balance market according to Realtor.com research.

The rental vacancy rate in the Hartford metrop area has increased from 3.1 percent to 5 percent. This shifted Hartford from a landlord-friendly market to one of the 22 balanced markets among the 50 largest metros in the country.

“We are seeing a fascinating tug-of-war,” Realtor.com economist Jiayi Xu said in a statement. “In the Sun Belt and parts of the Midwest, new construction is helping to create negotiating room for renters. But in traditionally more affordable areas like Richmond and Pittsburgh, the secret is out, rising demand from out-of-towners is starting to soak up that excess vacancy, proving that renter-friendliness can be fleeting if supply doesn’t keep pace with demand.”

The average rental vacancy rate across the nation’s 50 largest metros increased to 7.6 percent in 2025, an increase from 7.2 percent in 2024. Also, January marked the 29th consecutive month of year-over-year rent declines, with the national median asking rent dropping 1.5 percent year-over-year to $1,672.

“After years of being squeezed by limited inventory, renters are finally seeing the supply wave work in their favor,” Realtor.com Chief Economist Danielle Hale said in a statement. “This shift doesn’t just mean lower prices; it means that renters today have more options and more bargaining power. While the market isn’t uniform everywhere, the broader trend is a move toward a much needed equilibrium that allows for more flexibility and choice in the housing search.”

One and two-bedroom apartments are seeing even greater rent declines. Rents for these units have been on the decline nationally for 32 straight months. Two-bedroom units saw the greatest drop year-over year, with a 1.7 percent drop since 2024. The median rent for a two-bedroom unit is $1,847 across the country’s 50 largest metros.