{"id":11189,"date":"2017-05-01T07:30:43","date_gmt":"2017-05-01T12:30:43","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=11189"},"modified":"2021-01-05T09:25:17","modified_gmt":"2021-01-05T15:25:17","slug":"may-2017-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/may-2017-national-apartment-report\/","title":{"rendered":"National Rents on the Rise for May 2017"},"content":{"rendered":"

Nationally, rent prices increased slightly in April, with the median one-bedroom rent rising to $1,012 per month. That\u2019s the highest it\u2019s been since January\u2019s figure of $1,016, and represents an overall decline since the beginning of the year of .39%.<\/span><\/p>\n

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When it came to the steepest rent drops, two familiar faces led the way: Lincoln, NE, and Fort Wayne, IN<\/a>. Each city\u2019s rent dropped 8.2%, to continue a months-long slide. Lincoln\u2019s median rent of $627 represents a 21% decrease from its January rent of $801, and Fort Wayne\u2019s $493 is a 26.4% decline from its year-opening rent of $671 per month.<\/p>\n

Those declines might seem steep. One explanation: In order to better approximate what an apartment-seeker would experience when looking for a place to rent, Rentable collects data only on active listings currently on the market, which can vary widely month-to-month, depending on supply.<\/p>\n

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The rest of the biggest decreases were more minor, between 3% and 5%. A number of cities \u2014 Lubbock, TX (-4.6%); Nashville, TN (-4.3%); Cleveland, OH<\/a> (-3.4%); and Riverside, CA (-3.2%) \u2014 reprised their places on the list of greatest decreases for the second month in a row. In fact, this marks the third straight month that Nashville, Cleveland, and Riverside appeared on the list of greatest rental falls.<\/p>\n

The nation\u2019s largest rental hike came in Glendale, AZ, where one-bedroom median rents rose 11.5% to $861. That marks the continuation of a months-long trend: Glendale rents have increased every month since January, and currently they\u2019re 26% higher than they were at the beginning of the year. New Orleans (8.1%), Seattle (6.7%), and Phoenix (4.9%) also reprise their places on the list of biggest rent increases.<\/p>\n

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The list of cities with the nation\u2019s highest rents in April is largely unchanged from our last report. San Francisco\u2019s $3,415 price tag still leads the way, followed by New York City, NY<\/a> ($2,705), San Jose, CA ($2,459); and Boston, MA ($2,398). The only newcomer is Seattle, whose 6.7% rental jump to $1,680 puts it at the tenth-highest in the country.<\/p>\n

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For press inquiries, contact Sam Radbil<\/a>.<\/p>\n