Alexandria's median apartment rent dropped 2.8% year-over-year to $2,187, with one-bedroom units at $2,003 and two-bedrooms at $2,460. Most Northern Virginia suburbs saw rent declines, except Centreville, which rose 1.5%. Nationally, median rent fell 5.9% from its 2022 peak but remains 18% above early 2021 levels. Vacancy rates hit a record 7.4%, driven by new supply and weak demand.