Job losses have triggered a rental slowdown as many renters are recruiting roommates or turning to the guest rooms of friends and family. Reduced occupancy has prevented landlords from raising rents, and in many areas rents have fallen or remain stagnant.
Rental markets are slowing in places that weren't particularly impacted by the housing crisis. The most obvious slowdowns are in places that have big job-loss trends like Charlotte, NC and Atlanta, GA. Rents are up in cities where job growth has been steady, like Houston, the number-one city to earn a living.