Although nationwide one-bedroom rents have nearly returned to their January 2017 mark of $1,016 \u2014 after a March low point of $1,003 \u2014 in certain cities, rent prices have been more volatile.<\/p>\n
For the first time this year, New Orleans<\/a> has fallen out of the nation\u2019s top 10 for greatest rent rises. In its stead, Philadelphia, PA,<\/a> leads the pack with an 11.7% increase \u2014 one of the largest rent hikes this year, second only to an 11.8% increase in NOLA for April 2017.<\/p>\n The substantial rise in Philly rents is surprising, since for much of the year, the City of Brotherly Love has seen only decreases in rent prices. Even after the 11.7% hike, Philadelphia\u2019s rent is still down from its January high of $1,316, to $1,202.<\/p>\n Reno, NV<\/a> (8.8%), makes only its second appearance this year in our top 10 biggest rises, while Greensboro, NC<\/a> (5%); Rochester, NY<\/a> (7%); Riverside, CA<\/a> (6%); Toledo, OH<\/a> (5.3%); Dallas, TX<\/a> (5.1%); and Richmond, VA<\/a> (5%), are all making their 2017 debut.<\/p>\n All of the decreases going into June 2017 were on the smaller side, lead by Buffalo, NY<\/a>. Rents in Buffalo fell just 4%, from $1,054 to $1,012. Virginia Beach, VA<\/a>, is continuing its streak of small monthly decreases, down 3.5% this month. Three California cities \u2014 Fresno<\/a> (-3.5%), San Jose<\/a> (-3.3%), and San Francisco<\/a> (-2%) \u2014 also received well-deserved rent decreases going into June, which brings San Fran\u2019s median one-bedroom rent down to just $3,284.<\/p>\n Nonetheless, San Francisco still boasts the highest rents in the country.<\/p>\n The other nine cities in our top 10 highest rents list also remain unchanged from May 2017, but Chicago<\/a> rents are on a newly upward trend, now at $1,789, as are those in New York City<\/a>, Washington D.C.<\/a>, Los Angeles<\/a>, Miami<\/a>, and Seattle<\/a>. In fact, among these 10, only four cities saw a decrease in their rents, and three of those cities were in California (San Francisco, San Jose, and Oakland<\/a>).<\/p>\n For press inquiries, contact Sam Radbil<\/a>.<\/p>\n