Median Rents Up in August

Aug 06, 2018

Rent prices increased by 2.4 percent year-over-year in February, their fastest uptick in 10 months, according to new data from Zillow

The summertime temperature isn’t the only thing that is rising: The median national one-bedroom rents increased by $5 this month to $1,013 while two-bedroom units posted a $32 gain to a median of $1,262, according to new data from ABODO.

On the one-bedroom front, Columbus, Ohio, saw the greatest rent hike with a 14.2 percent increase, resulting in a $989 median rent, while Fort Worth, Texas, had the greatest decline with a 4.6 percent drop that resulted in a $998 median. For two-bedroom units, Cleveland had the greatest spike with a 12.9 percent upward movement to a $832 median rent, while Richardson, Texas, had the greatest fall with a 4.6 percent slide to a median rent of $1,479.

And, once again, San Francisco was the most expensive renters’ market, with a one-bedroom median of $3,654 and a two-bedroom median of $4,780.

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Phil Hall

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Aug 06, 2018

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