Rents Are Still Going Up, Albeit Slightly
October 6, 2017
Going into October, renters can expect to pay $1,020 for their one-bedroom unit, according to new data from ABODO. October’s rent average is the highest level for the year, just inching out September’s $1,018 level.
For the second consecutive month, the top three cities with the largest rent raises were Cleveland (up 9.9 percent), Santa Ana, Calif. (up 8.2 percent) and Colorado Springs, Colo. (up 6.4 percent). At the other end of the spectrum, Newark, N.J., saw the greatest rent decrease with a six percent drop from one month earlier, followed by Norfolk, Va., at a 5.9 percent drop and Houston at a 5.1 percent drop.
And, once again, San Francisco had the nation’s highest rent, with a $3,269 for one-bedroom unit.
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