Rent Expense By Market
Check out the price rankings for 1-Bedroom rental apartments across the nation.
The table below shows the apartment rental prices for each city, based on their median rental listing prices for 1-bedroom apartments. This data targets 1-bedroom apartment rentals as a representation of multi-family housing market in each city. Check out this article for more information on Dwellsy’s data methodology.
Dwellsy's data comes from the analysis of a pool of over 760,000 rental listings across the U.S.
1-Bedroom Apartment Rents for May '23 by MSA
FAQ
Which city has the most affordable 1-bedroom apartment rentals?
For the third consecutive month, the most affordable 1-bedroom apartment rentals are in the metropolitan statistical area (MSA) of Rolla, MO. This area had a median rent of $475/mo for May 2023. This rent price has risen 5.6% since last year.
Which city has the most expensive 1-bedroom apartment rentals?
According to May's data set, the market with the most expensive 1-bedroom apartments for rent is the metropolitan statistical area of New York-Northern New Jersey-Long Island, NY-NJ-PA. This is the third consecutive month that this MSA has taken the lead for most expensive 1-bedrooms. The median rent for 1-bedrooms in NYC for May was $3,241/mo, which is a 9.9% increase in median rent since May of last year.
Which city has seen the greatest increase in rent prices for 1-bedroom apartments?
The metropolitan statistical area of Las Cruces, New Mexico took first place for the greatest rent increase in 1-bedroom apartments. The median rent for 1-bedrooms in Las Cruces has increased by 51.4% since May 2022. To be precise, the cost of rent for a 1-bedroom apartment in Las Cruces was $1,098/mo last month.
Which city has seen the greatest decrease in rent prices for 1-bedroom apartments?
For the second month in a row, New Haven, CT saw the greatest decrease in median rent for 1-bedroom apartments. The median rent for 1-bedroom apartments in New Haven, CT has decreased 28.8% since May 2022. This leaves the median rent for 1-bedrooms in New Haven at $1,500/mo.
Looking for more data on the current rental market? Check out these articles!
complete 2022 guide to rent prices
complete guide to single-family rentals
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