Skip to main content

National Median Rent Unchanged in First Half of 2017

Phil Hall
Jul 12, 2017
The national median rent fluctuated during the first half of this year, but it ended up exactly where it began: $1,016 for a one-bedroom, according to new data from ABODO

The national median rent fluctuated during the first half of this year, but it ended up exactly where it began: $1,016 for a one-bedroom, according to new data from ABODO.
 
Twenty-six states and the District of Columbia saw rental increases in the first six months of 2017, with the largest average percent changes recorded in South Carolina (7.3 percent), Maine (7.3 percent), Vermont (7.2 percent), and Rhode Island (seven percent). Thirty-one states saw average changes in rent price of 1.3 percent or lower. Utah had the greatest average rent decrease with a 4.4 percent drop, followed by Oklahoma with a 3.3 percent decline.
 
The District of Columbia had the highest average rent from January to July, with one-bedroom units going for $2,138 per month. In comparison, South Dakota’s $525 average rent for a one-bedroom unit was the nation’s least expensive.
 
Among the leading metro markets, eight of the top 10 cities for rental hikes were in the South or Southwest. New Orleans had the greatest average monthly change with a 6.3 percent spike in the first half of the year and an average rent of $1,167. In comparison, Fort Wayne saw the largest rent shrinkage, with an average drop of 4.9 percent per month and an average rent of $562. 
The national median rent fluctuated during the first half of this year

 
Published
Jul 12, 2017
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021