Northeast home to nation’s highest rents as rates continue to climb, report says
Looking to live in a city and rent on the cheap? Des Moines, Iowa, might be for you -- but New York City most definitely is not.
Apartment Guide released its 2019 Annual Rent Report, which provides a look at rent prices around the country, and compares the prices of studio, one-bedroom and two-bedroom apartments.
The findings also determine which cities are becoming more expensive and more affordable for renters.
In 2018, the Northeast remained the region with the highest rent.
According to the report, "Rental prices in the Midwest and South held at roughly 45 to 50 percent of those seen in the Northeast."
Rent in the Midwest remained the lowest, with one-bedroom apartments averaging a little above $1,000.
In 2018, there was a slight increase for the average price of a two-bedroom apartment, rising from $1,302 to $1,354.
The rent for studio apartments rose at a higher rate -- close to 5 percent, reaching $1,065.
In the most populated city in the United States, New York City, the average price of a studio apartment is a whopping $3,257.
On the other end of the spectrum, in the 100th most populated city -- Des Moines -- had an average studio rent of $870.
Rent in the 25 most populated cities in the U.S.
Cities where rent for a one-bedroom rose in 2018
1. Newark, NJ - $1,692
2. San Diego, CA - $2,300
3. Des Moines, IA - $1,016
4. Anchorage, AK - $1,150
5. Boise, ID - $1,062
6. Fort Wayne, IN - $$810
7. Chandler, AZ - $1,157
8. Wichita, KS - $863
9. Scottsdale, AZ - $1,478
10. Louisville, KY - $951
Cities where rent for a one-bedroom fell in 2018
1. New Orleans, LA - $1,418
2. Jersey City, NJ - $2,596
3. Madison, WI - $1,235
4. Corpus Christi, TX - $843
5. Portland, OR - $1,644
6. Houston, TX - $1,231
7. Nashville, TN - $1,408
8. Virginia Beach, VA - $1,092
9. Fort Worth, TX - $1,056
10. Long Beach, CA - $2,048
To see more statistics and the full report, click here.
