{"id":13061,"date":"2017-11-01T07:30:15","date_gmt":"2017-11-01T12:30:15","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=13061"},"modified":"2021-01-05T09:27:31","modified_gmt":"2021-01-05T15:27:31","slug":"november-2017-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/november-2017-national-apartment-report\/","title":{"rendered":"November\u2019s Rent Spike is the Largest of 2017"},"content":{"rendered":"

The national median rent jumped $12 to $1,032 in November, the largest month-to-month increase of the year so far. The increase marks a 1.37% hike since the beginning of the year. Aside from an aberration in August, rents have been on the uptick since March.<\/span><\/p>\n

\"national<\/p>\n

The city with the highest rental increases should by now be familiar to readers of Rentable\u2019s reports. For the third consecutive month, Cleveland, OH<\/a>, takes the top spot: One-bedroom rents in The Land rose 6.5%, to $817. Indianapolis<\/a>, which was seventh last month, finds itself at #2 in November, with rents rising 5.4% to $748. Denver, CO<\/a>, is a newcomer at #3, with the median one-bedroom price rising 4.4% to $1,393.<\/span><\/p>\n

\"Biggest<\/p>\n

Colorado Springs, CO (+3.9%), and Fresno, CA (+3.7%), are the only other newcomers onto the list.<\/span><\/p>\n

Norfolk, VA<\/a>, which was #2 for rent drops last month, moves into the top spot in November, with rents falling 6%, to $705. Columbus, OH<\/a>, is close behind: One-bedroom apartments are going for $812, down 5.9% from October. Newark, NJ, which had the steepest rent declines last month, comes in at #3, with median rents dropping 4.4% to $1,036.<\/span><\/p>\n

Aside from holdovers Lexington, KY (-3.6%), and Houston, TX (-2.9%), the list of precipitous drops contains a host of new cities: Nashville, TN (-3.5%); Birmingham, AL (-2.7%); Pittsburgh (-2.7%); and Winston-Salem, NC (-2.6%). <\/span><\/p>\n

Renters in San Jose, CA<\/a> (-2.8%), are probably relieved to see their famously expensive rental market on our list of rental drops. Still, with a median one-bedroom price of $2,410, the epicenter of Silicon Valley maintains its spot as the third-most expensive rental market in the country. As ever, only San Francisco, CA<\/a> ($3,303), and New York City, NY<\/a> ($2,782), best it.<\/span><\/p>\n

\"Highest<\/p>\n

The list of the country\u2019s highest rents is largely unchanged, except for Washington, DC ($2,265), edging Oakland, CA ($2,115), for the #5 spot. And with a median rent of $1,816, Honolulu, HI, makes an appearance at #9, displacing Chicago, IL. <\/span><\/p>\n

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