Apartments in Beaconsdale Newport News

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Newport News:
May Rent Report

Welcome to the May 2024 Newport News 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 Newport News rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Newport News 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 Newport News average rent prices in the chart below.

Monthly Rent Report

$1,450
$1,090
$730
$360
$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

Newport News Rent Prices Increase From April to May

Newport News rent prices increased over the last month. From April to May, the city experienced a 1.2% increase for the price of a one-bedroom apartment. The rent price for a Newport News one-bedroom apartments currently stands at $1,265.0.

When we take a look at the two-bedroom comparison from April to May, Newport News experienced a -0.29% decrease for the price of a two-bedroom apartment. The rent price for a Newport News two-bedroom apartments currently stands at $1,372.0.

May Prices: Newport News vs. Surrounding Areas

Rent Prices in Newport News and Surrounding Areas

Rent prices have increased in Newport News 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 Newport News 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 Newport News suburbs

  • Rents did not decrease in any of the Newport News suburbs.

May 2024 Pricing Trends: Newport News vs. National Comparisons

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

Newport News Rent Prices More Affordable Than Major Cities

Rent growth in Newport News 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, Newport News average rent prices appear to be relatively affordable for local residents.

The price for a Newport News 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 Newport News and surrounding area rent prices, take a look at the complete data set below.

Data set for Newport News and suburbs

1 BR May 1 BR M/M % Change 2 BR May 2 BR M/M % Change

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.