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- Rents came close to touching a new record last month, Redfin data shows.
- The US median asking rent price rose to $2,052 last month, just below the all-time-high of $2,054.
- Similar to the buyers' market, the rental market is tight as tenants compete for limited available units.
Rent prices came close to hitting a new record last month, a sign that the US rental market is still hot.
The US median asking rent price rose to $2,052 in August, a 0.7% from July rent prices, the firm said in its latest Rental Market Tracker report. That's just $3.00 away from notching a new all-time-high, which was recorded in August of last year, the real estate listing site said.