{"id":8560,"date":"2017-02-01T07:30:22","date_gmt":"2017-02-01T13:30:22","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=8560"},"modified":"2021-01-05T09:22:35","modified_gmt":"2021-01-05T15:22:35","slug":"february-2017-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/february-2017-national-apartment-report\/","title":{"rendered":"Rents Decrease Nationwide, Led by Rochester for February 2017"},"content":{"rendered":"

Nationally, one-bedroom rent prices took a step down for February, dropping an average of .65% since the start of the year.<\/span><\/p>\n

By far, the greatest rent cost drop was in Rochester, NY, which fell 8.7% in February, down to a median of $707 from January\u2019s $774. Two Pennsylvania cities took the next two largest drops, with one-bedroom rents in both Pittsburgh<\/a> and Philadelphia falling more than 6%. Ohio also sported two of the nation\u2019s largest rent decreases, with Cleveland\u2019s one-bedrooms costing 4.7% less this month, and Cincinnati\u2019s down 4.4%.<\/p>\n

Philadelphia and Fort Wayne, IN (-6%), are enjoying the February rent relief following some of the largest average monthly rent <\/span>hikes <\/span><\/i>in the nation in 2016.<\/span><\/p>\n

New Orleans, LA; Portland, OR; Newark, NJ; and Tampa, FL, all saw one-bedroom rent increases of between 3% and 4%, while Glendale, AZ, and Baltimore, MD, both increased about 5%. <\/span><\/p>\n

The four largest rent hikes go to Miami, FL; Lexington, KY; Buffalo, NY; and Atlanta, GA, which all had increases in median one-bedroom rent of around 7%. In Miami, that means rent jumped up to $1,635 from the January report\u2019s $1,528, earning the #9 spot for the most expensive rents in the country. <\/span><\/p>\n

Compared with the country\u2019s highest rents in January 2017, Miami marks the only major shakeup, nudging San Diego off the list. San Francisco, New York<\/a>, San Jose, and Boston held onto the top four spots for the second month. Meanwhile Los Angeles, Washington, D.C., Oakland, and Chicago<\/a> swapped spots and Santa Ana held its #10 slot, despite seeing a small dip in rent.<\/span><\/p>\n

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