{"id":9355,"date":"2017-03-01T07:30:21","date_gmt":"2017-03-01T13:30:21","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=9355"},"modified":"2021-01-05T09:22:33","modified_gmt":"2021-01-05T15:22:33","slug":"march-2017-national-apartment-report","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/march-2017-national-apartment-report\/","title":{"rendered":"National Rent Continues Decrease for March 2017"},"content":{"rendered":"

Nationally, rent prices stayed pretty steady in February, falling a mere .03% over the course of the month. That brings the current national median rent to $1,003, a 1.3% decrease since the beginning of the year.<\/p>\n

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Some cities saw more major decreases. Philadelphia<\/a>\u2019s one-bedrooms rented for $1,112 per month, a 9.7% dropoff from last month\u2019s figure of $1,232. Two cities with significantly lower rents, Rochester, NY, and Fort Wayne, IN, showed similar decreases of 9.2%.<\/p>\n

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This marks the second consecutive month that Philadelphia, Rochester, and Fort Wayne have experienced significant drops in rent. These cities, along with Nashville, TN (-7.9%); Cleveland, OH (-6.7%); Cincinnati, OH (-6.6%); Richmond, VA (-5.3%); all appeared on last month\u2019s list of greatest decreases, as well.<\/p>\n

Only El Paso, TX (-7.5%), and Riverside, CA (-5.9%), are new additions.<\/p>\n

New Orleans, LA, saw its one-bedroom rent increase 9.1% to $1,055, the largest jump in the country. And although Glendale, AZ (7.4%), and Atlanta, GA (6.4%), both experienced notable gains for the second straight month, the majority of rental increases were more modest.<\/p>\n

Miami, FL, and Buffalo, NY, both experienced increases of 5.7%. In Houston, TX (4.4%); Phoenix, AZ (4.2%); Seattle, WA (3.4%); Columbus, OH<\/a> (2.5%); and Washington, D.C. (2.5%); rental increases were minor.<\/p>\n

The list of cities with the highest rents didn\u2019t change in the last month, and for the most part, rents stayed stable, with all changes \u2014 positive or negative \u2014 under $50. As usual, San Francisco owns the country\u2019s most expensive rent, with one-bedrooms going for $3,465 per month. The City by the Bay is followed by New York City, NY<\/a> ($2,754); San Jose, CA ($2,579); and Boston, MA ($2,410).<\/p>\n

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