The best government data will be delayed again, thanks to yet another shutdown caused by the Democratic Party. But the best private data show rents fell again in January, the sixth month in a row, leaving them 1.4% lower than a year ago, the first decline in decades. President Donald Trump’s mass deportation policies are not the only reason for the decline, but they are a big contributing factor.

The Census Bureau declined to put a number on the decline of the foreign-born population in 2025, but the net international migration numbers released last week note that “the foreign-born population in the [Current Population Survey] declined from 53.3 million in January 2025 to 51.9 million in June 2025, a decline of 1.4 million.” Some communities bore the brunt of illegal immigration more than others, so the effect on rents from departing illegal immigrants will vary from place to place. It is noteworthy, however, that the Los Angeles Times, no fan of Trump and his administration, admitted last week that “communities targeted by immigration officers, such as Long Beach and East L.A., saw a jump in vacancies.”