Scant Median Rent Price Increase in April

May 01, 2017

The median rent price for a one-bedroom unit in April was $1,012 per month, according to new data from Abodo. That is a mere $7.00 higher than the March median price of $1,005.

The greatest rent decreases were recorded in Lincoln, Neb., and Fort Wayne, Ind., which both registered an 8.2 percent decline. Lincoln’s median rent of $627 represented a 21 percent drop decrease from its January rent of $801, while Fort Wayne’s $493 is a 26.4 percent plummet from its January median of $671 per month.

On the flip side, Glendale, Ariz., had the greatest month-over-month rent hike: one-bedroom median rents rose 11.5 percent to $861, and they were 26 percent higher than they were at the beginning of the year. The cities with the highest rents were mostly unchanged from March: San Francisco had the most expensive rents at $3,415 for a one-bedroom unit, followed by New York ($2,705), San Jose ($2,459) and Boston ($2,398).

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Phil Hall

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May 01, 2017

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