National Median Rent Down in June

Phil Hall

Jun 01, 2018

<div>Oregon is poised to make history as the first in the nation to offer a statewide rent control policy.</div> <div> </div> <div><a href="https://www.oregonlive.com/politics/2019/02/oregon-legislature-passes-nations-first-statewide-rent-control-p

The national median rent for a one-bedroom unit for June is $1,005, down slighlty from $1,105 in May, according to new data from ABODO. The national median two-bedroom rent for June is $1,220, down from $1,230 in May.

Within the one-bedroom unit sphere, St. Paul, Minn., and Fargo, N.D., saw the greatest rent declines with drops of 8.6 percent and 6.8 percent, respectively. On the flip side, New York City and Norfolk, Va., each recorded one-bedroom unit rent increases, followed by New Haven, Conn. With a 4.8 percent upswing. For two-bedroom units, Buffalo, N.Y., and St. Paul saw the greatest declines with respective decreases of 8.2 and 5.7 percent, while New York City had the greatest increases with a 9.4 percent rise.

And, once again, San Francisco led the nation with the most expensive rents: a median one-bedroom rent of $3,350 and a median two-bedroom rent of $4,394.

The national median rent for a one-bedroom unit for June is $1,005, down slighlty from $1,105 in May, according to new data from ABODO

Link copied

Published

Jun 01, 2018

Analysis and Data

Resilient Labor Market Adds 339K Jobs In May

Despite 15% increase in new jobs from April, unemployment rate rises to 3.7%.

The U.S. labor market continues to defy efforts to slow the economy, adding a surprising 339,000 jobs in May, nearly double the expectations of economists, the government said Friday. Despite the biggest increase in employment since January, the unemployment rate rose by 3 ...

Regulation and Compliance

6 Federal Agencies Seek Comment On Proposed Rule For AVMs

The rule is intended to ensure the credibility and integrity of Automated Valuation Models.

Six federal regulatory agencies on Thursday requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in automated real estate valuations.  The proposed rule would implement quality control standards for automated valua...