The Renting Environment Continues to be Volatile

Jun 01, 2017

The perennial debate on whether it is more cost-effective to be a homeowner or a renter is the subject of a new study from the Urban Institute’s Housing Finance Policy Center, which analyzed 33 major metro areas

The nationwide average for one-bedroom rents hit $1,016 as rental prices have become more volatile in certain metro areas, according to new data from ABODO.

Philadelphia saw the greatest rent hike in May, with a 11.7 percent increase. This is the second largest rent hike of the year, slightly below the 11.8 percent spike in New Orleans during April. However, Philadelphia’s rent was down from its January high of $1,316, to $1,202.

San Francisco continued to have the most expensive rents, with the average one-bedroom unit renting for $3,284. New York came in second with a $2,823 average.
As for rent decreases, Buffalo, N.Y., recorded the largest decline, with a four percent drop from $1,054 to $1,012.

About the author

Phil Hall

Link copied

Published

Jun 01, 2017

Analysis and Data

Figure Says Partners More Than Doubled HELOC Volume On Its Platform

Consumer loan marketplace volume reached $4.3 billion as Figure Connect drove more production off the company’s balance sheet and helped lift adjusted margins to a record 55%

Figure Technology Solutions said mortgage partners using its platform generated substantially more home equity lending volume than their previous production would have predicted, adding an originator-level measure to a quarter marked by rapid marketplace growth and record pr...

People On The Move

eLEND Names Avi Marcus Chief Legal Officer

Marcus will oversee legal strategy and corporate governance as the lender expands its use of AI, automation, and digital mortgage technology

American Financial Resources LLC, which does business as eLEND, has appointed Avi Marcus chief legal officer and corporate secretary.Marcus brings more than 15 years of executive legal experience across mortgage lending, real estate, financial services, and technology. He ha...

Nov

Houston, TX

More from

Industry News

July CPI Eases Mortgage-Rate Risk, But Doesn’t Promise Relief

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Industry News

Aug 13, 2026

The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News

Jul 30, 2026

New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News

Jul 15, 2026

First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest