The Zillow Rent Index rose to a new high of $1,422 in June, only a small 1.1 percent increase from the previous month.
Rent growth has been steadily declining since July 2015, when rates rose 6.6 percent.
Rent prices actually decreased year-over-year in 12 of the 35 largest U.S. metros last month. Pittsburgh rents decreased 4 percent, and rents in Houston dropped 3 percent. Miami, San Jose, and San Francisco all had annual declines as well.