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The share of renter households that pay under $1,000 in monthly rent is at an all-time low according to a new report from Redfin.

According to the report, 32.1 percent of renters had a monthly rent under $1,000 in 2023. This is down from 35.2 percent in 2022.

“Rising rents have made it increasingly difficult for people to find housing in America,” said Redfin Senior Economist Sheharyar Bokhari. “Low-income workers, college students, immigrants and people on the fringes of homelessness have had to come up with new ways to be resourceful, with some taking on multiple roommates and others receiving financial support from family or friends.”

The share of apartments that are currently listed for under $1,000 is much lower than the percentage of renters who are paying less than $1,000 for rent. Just 7.5 percent of apartments on the market have an asking rent below $1,000.

Boston has followed the trend, albeit with more scarcity. Greater Boston saw its share of apartments renting for under $1,000 drop from 24.1 percent in 2022 to 22.8 percent in 2023. The latest data from Redfin shows that the median asking rent in Boston is currently $2,794, a 4.3 percent increase year-over-year.

Hartford, Connecticut has seen a more dramatic drop in the share of apartments renting for under $1,000. The share of apartments renting for under $1,000 dropped from 39.4 percent in 2022 to 30.5 percent in 2023.

Renters who hold these advantageous prices are holding on to them as long as they can. According to the report, 40.2 percent of renters that have a rent under $1,000 have been in their apartment for five years or more.