Rents on the Rise Again

Jun 01, 2016

Florida and California are home to renters that carry the highest cost burdens on their housing expenses, according to new data released by Abodo

After briefly leveling off last month, median rent prices resumed their upward movement, according to Apartment List’s June 2016 National Apartment List Rent Report.

On a national level, rents experienced a 2.7 percent year-over-year increase in May, with the median price for a two-bedroom apartment at $1,330 while one-bedroom apartments were at $1,180. Not surprisingly, San Francisco continued to be the most expensive rental market in the nation, where two-bedroom apartments carried a median price of $4,730 per month. However, San Francisco’s rent prices actually fell 0.3 percent on a year-over-year measurement in May.

Another California metro area, Long Beach, saw the greatest average year-over-year rent last month, with two-bedroom prices up 10.8 percent since May 2015. The median price for a two-bedroom unit in Long Beach was $2,000, while one-bedroom units carried a $1,500 median price.

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Phil Hall

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Jun 01, 2016

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