{"id":14986,"date":"2018-07-01T08:00:32","date_gmt":"2018-07-01T13:00:32","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=14986"},"modified":"2023-07-26T13:24:18","modified_gmt":"2023-07-26T18:24:18","slug":"july-2018-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/july-2018-national-apartment-report\/","title":{"rendered":"July National Apartment Report: U.S. Experiences First Monthly Rent Increase of 2018"},"content":{"rendered":"

Have 2018 rent price decreases found the bottom? <\/span>Has the six-month downward trend finally been stopped? <\/span><\/p>\n

While one month\u2019s stats don\u2019t define a new rent pricing era, the national median prices of both one-bedroom and two-bedroom units showed modest July increases. Though one-bedroom apartments are still down a substantial 3.63 percent for 2018 thus far, the median July price nudged upward to $1,008, from the previous month\u2019s $1005<\/a>.<\/span><\/p>\n

\"National<\/p>\n

Two-bedroom units increased even more, shaving the cumulative 2018 decrease from 2.71 percent to 1.91 percent as the median July price rose from $1220 to $1230.<\/span><\/p>\n

1-Bedroom Apartments<\/h2>\n

This month 10 cities posted increases of 4.5 percent to 6.4 percent. Baltimore, MD<\/a> And Orlando, FL<\/a> led the pack with over 6 percent rises and Columbus, OH<\/a> and Lexington, KY<\/a>, two municipalities that rounded out the top ten, both had substantial increases of over 4.5 percent. <\/span><\/p>\n

This is a significant difference from June where the small number of cities with increases in rent price were considered outliers.<\/span><\/p>\n

\"Greatest<\/p>\n

Cities with rent prices on the decline posted a more severe range with Little Rock, AR<\/a> reporting a huge 9.8 percent decline from June. <\/span><\/p>\n

The next largest decline in 1-bedroom rent price was seen in Columbus, GA<\/a>, though that city\u2019s decline was less than half of Little Rock\u2019s at 4.1 percent. <\/span><\/p>\n

Fargo, ND<\/a>, St. Paul, MN<\/a>, Jacksonville FL<\/a>, Durham, NC <\/a>and Cleveland, OH<\/a> all reported the same 2.9 percent price drop.<\/span><\/p>\n

2-Bedroom Apartments<\/h2>\n

Following the slight upward national trend, the top ten 2-bedroom increasers rose an average of 4.63 percent with Syracuse, NY<\/a> at the top with a 6.8 percent increase, and Scottsdale, AZ<\/a> at the bottom posting a more modest but still significant 3.0 percent rise. <\/span><\/p>\n

Detroit, MI<\/a> logged a hefty 6.1 percent price increase and even low-priced Green Bay, WI<\/a> \u2014 where a mere $700 could secure a 2-bedroom apartment in June \u2014 showed drastic 3.1 percent increase to $722 this July.<\/span><\/p>\n

\"Greatest<\/p>\n

Even cities with prices on the decline showed some stability and tightening as the 10 biggest decreasing cities ranged from both Fort Worth, TX<\/a> and Fargo, ND with eye-opening 4.4 percent losses, to Durham, NC that clocked in with a 1.7 percent fall from $1,210 in June to $1,189 in July. <\/span><\/p>\n

The rest of the decliners were tightly grouped, falling 2.2 to 3.2 percent.<\/span><\/p>\n

Rent Report Recap: Where We Stand<\/h2>\n

June<\/a> capped a 6-month slide that looked like it might continue into July. <\/span>This didn\u2019t exactly happen as both national 1-bedroom and 2-bedroom unit averages stopped the decline and nudged upward. <\/span><\/p>\n

While there are pockets of both strength and weakness, if inflationary pressures persist and the economy stays afloat, landlords may breathe a sigh of relief, and tenants may start to worry. <\/span><\/p>\n

It\u2019s clear that August rent figures will be very interesting.<\/span><\/p>\n

Methodology<\/h2>\n

Each month, using over 1 million Rentable<\/a> listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Have 2018 rent price decreases found the bottom? Has the six-month downward trend finally been stopped? While one month\u2019s stats don\u2019t define a new rent pricing era, the national median prices of both one-bedroom and … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":23,"featured_media":14997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[148],"tags":[83],"_links":{"self":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/14986"}],"collection":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/comments?post=14986"}],"version-history":[{"count":9,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/14986\/revisions"}],"predecessor-version":[{"id":21360,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/14986\/revisions\/21360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/media\/14997"}],"wp:attachment":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/media?parent=14986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/categories?post=14986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/tags?post=14986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}