Rents Fall Very Slightly in November

The average rental price of a one-bedroom unit dropped last month by five dollars, from $1,042 to $1,037, according to new data from ABODO.

Among the major metro markets, Miami saw the greatest rent decrease, with the price of a one-bedroom falling dropping by 11percent to $1,569. Other markets showing rent declines were Minneapolis and Seattle (both registering a nine percent drop), Dallas (down seven percent) and Oakland (down six percent).

But not every market registered a decline: Colorado Springs saw the average price of a one-bedroom jump by eight percent to $962. Three California cities also saw rent hikes: Long Beach (up six percent) and Sacramento and San Diego (both up by five percent).