{"id":17385,"date":"2019-10-01T10:58:52","date_gmt":"2019-10-01T15:58:52","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=17385"},"modified":"2020-11-20T13:50:42","modified_gmt":"2020-11-20T19:50:42","slug":"october-2019-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/october-2019-national-apartment-report\/","title":{"rendered":"[National Rent Report] One-Bedroom Units Halt Their Decline in October"},"content":{"rendered":"<h4><strong>Last month we noted a significant downward trend in both one and two-bedroom units median rents. In October we saw a more moderate picture as:<\/strong><\/h4>\n<ul>\n<li style=\"font-weight: 400;\">\n<h4><strong>One-bedroom units halted their slide and actually rose .10 percent.<\/strong><\/h4>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h4><strong>Two-bedroom units continued to fall but at a statistically insignificant .16 percent rate.<\/strong><\/h4>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h4><strong>We saw no double-digit gainers or losers in any of our top ten lists.<\/strong><\/h4>\n<\/li>\n<\/ul>\n<h4><strong>Let\u2019s get into specifics:<\/strong><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-14653\" src=\"https:\/\/blog-assets.rentable.co\/blog\/wp-content\/uploads\/2019\/10\/01105323\/2019-October-Rent-Report.png\" width=\"1000\" height=\"606\" \/><\/p>\n<h2><b>1-Bedroom Apartments<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Median one-bedroom apartments tacked on a small .10 gain on to remain in positive 2019 territory with a yearly rise through October of 2.71 percent to a median rent of $1063.<\/span><\/p>\n<h3><b>Upward Movers<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Gains were definitely moderate at best as <a href=\"https:\/\/www.rentable.co\/savannah-ga\">Savannah, GA<\/a> led the top ten gainers list with a not-too exciting 4.8 percent rise, followed by Oklahoma City, OK reporting an even 4.0 percent gain. Soon-to-be cold <a href=\"https:\/\/www.rentable.co\/boulder-co\">Boulder, CO<\/a> and College Station, TX tied for second place with boring 3.6 percent increases. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Texas cousin <a href=\"https:\/\/www.rentable.co\/fort-worth-tx\">Fort Worth<\/a> rose 2.9 percent to $1146\u2014slightly above the national October median average of $1063. Oakland, CA also gained 2.9 percent with Colorado Springs, CO, and <a href=\"https:\/\/www.rentable.co\/eugene-or\">Eugene, OR<\/a> reporting small 2.8 percent increases. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another Texas town, Richardson, rose 2.6 percent to $1205 while Buffalo, NY came in tenth with a little 2.3 percent increase. The most affordable city on our top ten gainers list was Oklahoma City, OK at $763.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-14654 size-full\" src=\"https:\/\/blog-assets.rentable.co\/blog\/wp-content\/uploads\/2019\/10\/01105315\/October-Greatest-Median-1-Bedroom-Rent-Changes.png\" alt=\"October 2019 Rent Report 1-Bedroom Pricing\" width=\"1000\" height=\"1296\" \/><\/p>\n<h3><strong>Downward Movers<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.rentable.co\/rochester-ny\">Rochester, NY<\/a> led the one-bedroom losers with a stout 8.6 percent decrease to a low $602 median rent. Wichita, KS came in second with a fall of 7.5 percent to a cheap $591 per month\u2014cheaper than it costs to rent a parking spot in some major cities! <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.rentable.co\/syracuse-ny\">Syracuse, NY<\/a> reported a 6.1 percent drop and placed third on our list of losers. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jacksonville, FL was alone in fourth place dropping 4.4 percent, and Grand Rapids, MI, Irving, TX and Baton Rouge, LA all fell from 3 to 3.9 percent. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bottom three cities, San Jose, CA, Reno, NV and <a href=\"https:\/\/www.rentable.co\/dallas-tx\">Dallas, TX<\/a> all decreased by 2.3 to 2.4 percent. The most expensive location on our top ten losers list was San Jose, CA at a jaw-dropping median price of $2635, down from $2701 in September.<\/span><\/p>\n<h2><b>2-Bedroom Apartments<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The charts for two-bedroom apartment gainers and losers showed a similar range as double-digit increases or losses were absent. Gainers showed increases of 2.1 percent to 7.4 percent, and losers posted declines of 2.3 percent to 6.5 percent.<\/span><\/p>\n<h3><b>Upward Movers<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Cleveland, OH gained 7.4 percent to lead the list, and Buffalo, NY came in second with a 5.5 percent increase to $1095. Cincinnati, OH, Boulder, CO and Fort Worth, TX all posted increases between 4.0 to 4.3 percent. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alone in sixth place was <a href=\"https:\/\/www.rentable.co\/minneapolis-mn\">Minneapolis, MN<\/a> with a modest 3.9 percent rise to $1979. Wichita, KS reported a small 2.5 percent gain, and <a href=\"https:\/\/www.rentable.co\/toledo-oh\">Toledo, OH<\/a> also rose 2.5 percent to a still amazingly affordable $662. Both Mesa, AZ and Nashville, TN increased by 2.1 percent. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On this list, Boulder, CO was the most expensive place to rent a two-bedroom apartment in October at $2116.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-14655 size-full\" src=\"https:\/\/blog-assets.rentable.co\/blog\/wp-content\/uploads\/2019\/10\/01105311\/October-Greatest-Median-2-Bedroom-Rent-Changes.png\" alt=\"September 2019 Rent Report 2-Bedroom Prices\" width=\"1000\" height=\"1296\" \/><\/p>\n<h3><strong>Downward Movers<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Two-bedroom losers were tightly bunched in a 2.3 to 6.6 percent range. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fresno, CA led the list with a 6.6 percent loss to $1167. Rochester, NY claimed the second biggest loser prize with a fall of 6.5 percent while New Orleans, LA fell a significant 5.8 percent to $1674. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pricey Honolulu, HI became a little more affordable with a 4.0 percent loss to a median $2188, and Columbus, GA lost 3.6 percent. Santa Ana, CA reported a fall of 3.3 percent, and frigid Fargo, ND lost 2.9 percent. Glendale, AZ and Irving, TX fell 2.5 and 2.3 percent respectively. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The cheapest place to rent a two-bedroom apartment on our top ten losers\u2019 list was <a href=\"https:\/\/www.rentable.co\/columbus-ga\">Columbus, GA<\/a> at $667.<\/span><\/p>\n<h2><b>Rent Report Recap &amp; What&#8217;s Next?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Last month, <a href=\"https:\/\/www.rentable.co\/blog\/september-2019-national-apartment-report\/\">even though we saw significant September<\/a> declines, we said, \u201cwe are not throwing in the towel yet,\u201d and we\u2019re glad that we didn\u2019t because October merely showed a flattening trend. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We survived an oil spike and seemingly constant geo-political tensions. With impeachment proceedings lurking, we are anything but comfortable, but we just do not see a recession beginning any time soon. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both one and two-bedroom units are still in positive territory for the year, and we think that the generally flat and unexciting national median rent trends will continue.<\/span><\/p>\n<p><strong>Tune in next month to see if the rental market surprises us with a sharp upward or downward move.<\/strong><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/spreadsheets\/d\/e\/2PACX-1vTBAIbOmig0eYWjiqYT0quDSK9q2cAjtOSBX_qSRlV4dpBV_DCb9hV8mMaZEVwH8p23dDWRojDHXqAE\/pubhtml???widget=true&amp;headers=false\" width=\"1200\" height=\"400\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<h2>Methodology<\/h2>\n<p>Each month, using millions of <a href=\"https:\/\/www.rentable.co\">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.<\/p>\n<p><em>For press inquiries, please contact <a href=\"mailto:sam@rentable.co\">Sam Radbil<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last month we noted a significant downward trend in both one and two-bedroom units median rents. In October we saw a more moderate picture as: One-bedroom units halted their slide and actually rose .10 percent. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"[National Rent Report] One-Bedroom Units Halt Their Decline in October\" class=\"read-more button\" href=\"https:\/\/www.rentable.co\/blog\/october-2019-national-apartment-report\/#more-17385\" aria-label=\"More on [National Rent Report] One-Bedroom Units Halt Their Decline in October\">Read more<\/a><\/p>\n","protected":false},"author":23,"featured_media":17391,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[148],"tags":[],"_links":{"self":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/17385"}],"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=17385"}],"version-history":[{"count":7,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/17385\/revisions"}],"predecessor-version":[{"id":17397,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/posts\/17385\/revisions\/17397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/media\/17391"}],"wp:attachment":[{"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/media?parent=17385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/categories?post=17385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentable.co\/blog\/wp-json\/wp\/v2\/tags?post=17385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}