February Rents Increased the Most in Small Markets; Colorado Among the Most Active
Key takeaways: The national average rent was $1,364 in February 2018, 2.7 percent higher than this time last year, and up 0.01 percent ($1) month over month, according to data from Yardi Matrix. 87 percent of the nation’s biggest 250 cities have seen rents grow in February year over year, in 11 percent of cities…
Read MoreDowntown LA’s 90014 Heads the List of Fastest-Gentrifying ZIPs Since the Turn of the Millennium
There are a lot of things an urban area can and should aspire to excel in. This is not one of them. Yet, even if gentrification is not something to strive for, it happens all the more often—and as there are ways to quantify it, we did just that, and a ranking arose, considering income…
Read MoreInternational Study: Renting Landscape in 30 Countries Around the World
Highlights: 29 of 30 countries are majority homeowners, with Switzerland being the only exception. Renters are on the increase in 21 of 30 countries, with UK’s share of the population that rents up by 22% in just 5 years. The number of renters in the United States grew two times faster than in the European…
Read MoreSame Trend, Different Year: January Brings Further Rent Increases, Fueled by Demand
Key takeaways: The national average rent was $1,361 in January 2018, 2.8 percent higher than this time last year, and flat month over month, according to data from Yardi Matrix. 89 percent of the nation’s biggest cities have seen rents grow in January, in 9 percent of cities rents remained unchanged, while only 2 percent…
Read MoreLos Angeles Area 2017 Rent Retrospect
The average rent in the city of Los Angeles at the end of the year was $2,284 /month, 4.3% more than in December 2016. The LA area overall has posted a similar year-over-year growth rate, at precisely 4% higher than the year-ago figure, reaching $2,146. Meanwhile, the national average rent is $1,359—2.5% higher than it…
Read MoreRenters vs Owners: Renters Became the Majority Population in 22 Large Cities
Key takeaways The population of almost a quarter of the 100 largest U.S. cities has changed from homeowner- to renter-majority between 2006 and 2016. The increase in the number of U.S. renters at national level in a decade’s time was only slightly slower than the total population growth over the same period, demonstrating a…
Read MorePortland Metro Area 2017 Rent Retrospect
Portland’s average rent at the end of 2017 was $1,425/month, 1.2% less than the year-ago figure. Meanwhile, rent prices in the metro area overall posted a 0.8% increase over the year, to an average of $1,331/month at the end of December. The national average rent is 2.5% higher than it was in December 2016. Over…
Read MorePhoenix Metro Area 2017 Rent Retrospect
As the national average rent increased by 2.5% during 2017, Phoenix rents followed an ascending trend as well. At the end of 2017, the average rent in the city of Phoenix was $934, 4.5% more than it was at the end of the previous year. According to Yardi Matrix, rents in Phoenix have been growing at a steady pace…
Read MoreAtlanta Metro Area 2017 Rent Retrospect
The average rent in Atlanta at the end of December 2017 was $1,340/month, 2.4% more than exactly one year prior. In the metro area overall, the average rent was $1,182/month at the end of the year, an increase of 2.6% over the year, while the national average rent is 2.5% higher than December 2016. Over…
Read MoreSan Francisco Bay Area 2017 Rent Retrospect
In 2017, the San Francisco Bay Area remained one of the top most expensive metro areas in the country for renters. The average rent in the Bay Area at the end of 2017 was $2,602, 3% higher than one year prior, according to Yardi Matrix. Over the last three years, the cost of rent in this pricey…
Read More2017 Year End Rent Report – Las Vegas Was 2017’s Hottest Large Rental Market
Report highlights: The national average apartment rent in 2017 increased by 2.5% y-o-y, reached $1,359/month at the end of 2017, according to Yardi Matrix Rent prices fluctuated the most in small-size cities, with the 5 highest y-o-y increases in Odessa and Midland, TX, Buffalo, NY, Lancaster, CA and Reno, NV New York rents among the…
Read MoreNew Study Says Renting Might Be More Profitable Than Owning a Home
It’s a debate that has been going on for a while now between two possibilities: renting or owning a home. Which one would prove to be more profitable in the long run? A new study called “A Revision of the American Dream of Home Owning”, published in the Journal of Housing Research and featured by…
Read MoreNew Jersey’s Most Expensive ZIP Codes – Hoboken and Edgewater Rents 2.5 Times the National Average
Key takeaways: Hoboken’s 07030 is the #1 most expensive ZIP code for renters in New Jersey with an average of $3,401 At almost 52%, Jersey City’s 07306 (#37) experienced the highest rate of supply expansion as well as the highest rent gains at 34% Livingston’s 07039 (#12) experienced the largest negative rent growth in the…
Read MoreApartment Rents Stabilize in November Around the Country, While Mid-Sized Markets Remain Active
Key takeaways: Rents were consistent for the month, coming in at $1,358 – just 2.5 percent higher than this time last year, according to data from Yardi Matrix. 83% of the nation’s biggest cities have seen rents grow in the last year, 14% saw rents remain steady, while only 3% experienced rent drops compared to 2016. …
Read MoreVirginia’s Most Expensive ZIP Codes – It Takes Over $2.2K/Month to Rent in Arlington’s Priciest ZIP Codes
Key takeaways: Virginia’s #1 most expensive ZIP code is Arlington’s 22209 with an average of $2,348 22209 together with adjacent 22201 form a cluster of pricey rental rates across the river from D.C. Supply levels remained overwhelmingly unchanged in the 50 most expensive Virginia ZIP codes over the past 12 months 22102 in McLean bucked…
Read MoreMichigan’s Most Expensive ZIP Codes – Supply Flatlines, But Rents Up Throughout State
Key takeaways: 48104 is the #1 most expensive ZIP code for renters in Michigan at an average of $2,021 Grand Rapids’ 49504 is the ZIP code with the highest Y-o-Y rent growth rate at 9.12% Flint’s 48503 (#161) had the highest expansion rate, increasing stock by 34% Around 30% of Detroit renters are Baby Boomers,…
Read MoreMaryland’s Most Expensive ZIP Codes – Chevy Chase and Potomac Town in the Lead at Over $2.3K
Key takeaways: At a monthly average of $2,392 Chevy Chase’s 20815 is the #1 most expensive ZIP code in Maryland, at more than $1K above the national average Bethesda’s 20814 is the #2 priciest ZIP in Maryland, forming a ZIP cluster with 20815 that ranks as Maryland’s most expensive area for renters Montgomery is the…
Read MoreHow Much Space Does $1,500 Rent You in the 30 Most Magnetic Cities in the World?
Making do with a small apartment is something many people feel forced to consider when renting in a big city. Location is king but so is cash, so size gets to be compromised on very often. However, if you just don’t want to sacrifice size on the altar of an expensive location, things tend to…
Read MoreThe Biggest Game Changers in Renting Are Older, Highly-Educated Renters, and 2.5 Million Stronger
Have you noticed how different renting is today from one or two decades ago? I think most of us would agree that renters were usually people in their 20s, renting mostly bare-bones dingy apartments with stinky carpeting and peeling windows in poorly-maintained old buildings until they saved enough to buy a place of their own.…
Read MoreGeorgia’s Most Expensive ZIP Codes This Fall – Alpharetta in the Lead, Closely Followed by Atlanta
Key Takeaways: Zip 30009 in Alpharetta wins the title for being most expensive, with an average rent of $2,223 Atlanta leads with 23 zip codes out of the 50 priciest Only 6 zip codes out of the top 50 costliest have seen a price decrease since 2016 26 zip codes top the national average of $1,354 With residents paying on average…
Read MoreThe Most Expensive ZIP Codes in Massachusetts – 3rd Priciest City for Renters, Boston Core Cluster of Expensive Zips
Key takeaways: Boston’s 02199 is the #1 most expensive ZIP code for Massachusetts renters at an average of $4,227 Massachusetts’ top 8 most expensive ZIP codes form a contiguous cluster of pricey ZIPs , with average rents ranging between $3.3K and over $4.2K Massachusetts and Boston average rents rank as 3rd highest in the U.S.…
Read MoreOregon’s Most Expensive ZIP Codes – with $1.8K, Portland’s Pearl District, Nob Hill and the Northwest District Are Leading the Pack
Key takeaways: At $1,837, Oregon’s #1 most expensive ZIP code for renters is 97209 in Portland Portland is home to 12 of the state’s top 20 priciest ZIPs Close to a quarter of Oregon ZIPs boast rents higher than the $1,350 national average 4.8K new apartments are expected in the Portland–Vancouver–Hillsboro metro by end of…
Read MoreNational Rents on Pause for the Entire Peak Rental Season, Including Priciest Cities; Mid-Sized Cities Continue Rally
Key takeaways: The national average rent was $1,354 in September, remaining virtually flat for the 4th month in a row, and showing the slowest annual growth in six years — 2.2% — according to Yardi Matrix. 82% of the 250 biggest cities in the U.S. (205 in total) experienced growth over the past year; 35 cities…
Read MoreColorado’s Most Expensive ZIP Codes – Cherry Creek and Congress Park in the Lead, Englewood and Cherry Hills Village Close Behind at Nearly $2K
Key takeaways: At $1,991, Denver’s 80206 is the #1 most expensive ZIP code for Colorado renters Rents in 44 of Colorado’s most expensive ZIPs are above the $1,350 national average Apartment construction is strong, with 13,142 new units expected in Metro Denver in 2017 Of the state’s top 50 priciest ZIP codes, 80538 in Loveland…
Read MoreRents Continue Slowdown in NYC, SF But Mid-Sized Cities See Major Spike
Key takeaways: Average rents hit $1,352 for the month of August, rising just $1 – or 0.1% – since July, according to Yardi Matrix. A whopping 84% of the 250 biggest cities in the U.S. (209 in total) have experienced rent growth over the past year. Just 31 cities saw rents flat-line, while 10 cities…
Read MoreThe Most Expensive ZIP Codes in Texas – Central Austin in the Lead with Downtown Rents Nearing $2.5K
Key takeaways: The #1 most expensive ZIP code in Texas is 78701 in trendy Downtown Austin with an average rent of $2,475 All 50 of the most expensive ZIP codes in Texas boast rents higher than the national average—currently at $1,316 according to Yardi Matrix Harris county leads with 15 spots among Texas’ 50 priciest…
Read More5 Design Ideas to Go Green with Your Apartment Interiors
Living in an apartment certainly comes with its interior design-related challenges. In most cases, you’re working with a limited floor area, forcing you to make most of your decorating or project decisions based on how best to maximize that floor area with functional space. Making matters even more encumbered are the limitations imposed by your…
Read MoreApartment Construction at its Highest Level in 20 Years, with Denver, Nashville Joining NYC as 2017’s Hottest Rental Markets
We’d need 4.6 million new apartments by 2030 to meet demand for rental living and keep prices in check, per data from the National Multifamily Housing Council. That’s about 373K new units each year on average, a number that’s rather optimistic considering the pace of apartment construction in the last decade. So how feasible is…
Read MoreThe Most Expensive ZIP Codes for Renters in Florida in 2017
Key Highlights: Apartment rents in Coral Gables ZIP 33146 are the highest in the State of Florida 42 of the state’s top 50 ZIP codes with the most expensive apartments are in Southeast Florida 18 Florida ZIP codes have average rents above $2,000/month A sought-after location for renters of all ages, the Sunshine State…
Read MoreWashington’s Most Expensive ZIP Codes – Seattle’s CBD On Top with Urban Core Rents Nearing $2.5K
Key takeaways: At $2,428, Seattle’s 98101 is the #1 most expensive ZIP code for renters in Washington Seattle is also home to 18 of the state’s top 50 most expensive ZIP codes All of Washington’s 50 priciest ZIP codes surpass the national average rent, which clocked in at $1,349 in June – in fact more…
Read More