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Rents Up 3.3 Percent YoY in January

Phil Hall
Feb 03, 2016
Average rent prices in January dropped 0.3 percent from the previous month, according to the latest numbers from Apartment List

Average rent prices in January dropped 0.3 percent from the previous month, according to the latest numbers from Apartment List. However, on a year-over-year basis, average rent prices rose 3.3 percent. In comparison, the December 2015 year-over-year uptick was 2.7 percent.

The most expensive rental markets last month were found on either the East or West Coast, with San Francisco topping the list with one-bedroom and two-bedroom rents averaging $3,520 and $4,760, respectively. Rounding out the top 10 for expensive rents were New York City; Jersey City, N.J.; Washington, D.C.; Boston; San Jose; Los Angeles; Stamford, Conn.; Miami; and Seattle.

Vancouver, Wash., recorded the greatest year-over-year increase in rents, with a 12.4 percent spike last month. The average cost for a two-bedroom apartment in Vancouver is now $1,120 per month.

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