Apartments in Eastern South Hill Ithaca

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4
$4,400 - 9,225
522 Stewart Ave Ithaca, NY
4 - 8+ BR | Jun. 10, 2024
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Dog Friendly
Cat Friendly
Surface Parking
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4
$1,400 - 4,200
Ithaca, NY
1 - 4 BR | Aug. 1, 2024
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University Hill
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Ithaca:
May Rent Report

Welcome to the May 2024 Ithaca Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Ithaca rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Ithaca and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Ithaca average rent prices in the chart below.

Monthly Rent Report

$2,550
$1,910
$1,280
$640
$0
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
1 BR       2 BR

Ithaca Rent Prices Increase From April to May

Ithaca rent prices increased over the last month. From April to May, the city experienced a 0.06% increase for the price of a one-bedroom apartment. The rent price for a Ithaca one-bedroom apartments currently stands at $1,600.0.

When we take a look at the two-bedroom comparison from April to May, Ithaca experienced a 1.21% increase for the price of a two-bedroom apartment. The rent price for a Ithaca two-bedroom apartments currently stands at $1,922.0.

May Prices: Ithaca vs. Surrounding Areas

Ithaca, NY
$1,599
$0
$550
$1,100
$1,650
$2,200
Median 1 BR Rent

Rent Prices in Ithaca and Surrounding Areas

Rent prices have increased in Ithaca over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Ithaca suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Ithaca suburbs

  • Rents did not decrease in any of the Ithaca suburbs.

May 2024 Pricing Trends: Ithaca vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Ithaca, NY
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,056
$3,039
$2,377
$2,336
$1,913
$1,599
$1,300
$1,283
$1,178
$0
$1,350
$2,700
$4,050
$5,400
Median Rent

Ithaca Rent Prices More Affordable Than Major Cities

Rent growth in Ithaca over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Ithaca average rent prices appear to be relatively affordable for local residents.

The price for a Ithaca one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Ithaca and surrounding area rent prices, take a look at the complete data set below.

Data set for Ithaca and suburbs

1 BR May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Ithaca, NY $1,599.0 -0.19% $1,899.0 -0.26%

Methodology

Each month, using over 1 million Rentable 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.