{"id":52197,"date":"2017-03-14T00:12:56","date_gmt":"2017-03-14T07:12:56","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=52197"},"modified":"2024-08-16T05:59:20","modified_gmt":"2024-08-16T12:59:20","slug":"rentcafe-apartment-market-report-february-2017","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/rentcafe-apartment-market-report-february-2017\/","title":{"rendered":"Rents Remain Stable for February; San Fran Finally Catches a Break"},"content":{"rendered":"<h2>Key takeaways:<\/h2>\n<ul>\n<li><em>The average U.S. apartment rent decreased by $9 in February, reaching $1,306 according to <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\">Yardi Matrix.<\/a><\/em><\/li>\n<li><em>Luxury rents have dropped for the month, hitting $1, 554. This marks a nearly 1% decrease over January. <\/em><\/li>\n<li><em>California cities make up the bulk of the rent-growth list, with eight of the top 20 cities located within the state\u2019s borders. Stockton and Sacramento took the No. 1 and No. 2 spots.<\/em><\/li>\n<li><em>San Francisco, though still boasting one of the nation\u2019s highest rents, saw the biggest y-o-y rent drop in the nation for February, decreasing 3.6% over the year.<\/em><\/li>\n<\/ul>\n<p>It seems the <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-at-a-10-year-high-new-units-up-a-staggering-50-percent-in-2016\/\" target=\"_blank\" rel=\"noopener\">recent increase in new construction<\/a> is creating volatility in the apartment market, cooling down rents across the country &#8211; and even in some of the nation\u2019s most in-demand cities such as Washington, DC; Chicago; and Portland, OR.<\/p>\n<p>Overall, rents dropped by $9 in February, reaching $1,306 on average, as reported by <a href=\"https:\/\/www.yardimatrix.com\/Institutional-Research\" target=\"_blank\" rel=\"noopener\">Yardi Matrix<\/a>, while <strong>historically tight markets like San Francisco, Houston, Boston, San Jose, <\/strong>and<strong> New York all saw average rents drop as well<\/strong>.<\/p>\n<p>Recent construction has also led to a <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/luxury-is-the-trend-in-new-rental-construction\/\" target=\"_blank\" rel=\"noopener\">surplus of luxury units in many major metropolises<\/a>, and that means a loosening market there, too. Like the national average, rents on luxury properties also dropped for the month, reaching their lowest point since mid-2016.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78913\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-average-rent-february-2017-v2.jpg\" alt=\"national_average_rent_february_2017\" width=\"1099\" height=\"564\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-average-rent-february-2017-v2.jpg 1099w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-average-rent-february-2017-v2.jpg?resize=500,257 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-average-rent-february-2017-v2.jpg?resize=768,394 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-average-rent-february-2017-v2.jpg?resize=150,77 150w\" sizes=\"auto, (max-width: 1099px) 100vw, 1099px\" \/><\/p>\n<h2>Stability is the Name of the Game for All Units<\/h2>\n<p>In keeping with national rent trends, by-size rent costs remained fairly stable on all property types for February. Two-bedroom and three-bedroom units saw literally no change in price over January \u2013 hitting $1,385 and $1,606, respectively \u2013 while studio apartments and one-bedroom units jumped just 0.1%, coming in at $1,165 and $1,182.<\/p>\n<p>Over the year, all sized units saw roughly the same price increase; studios jumped 3.8%, one- and two-bedrooms rose 3.4%, and three-bedrooms went up by 3.3%. Despite a large influx of one-bedroom properties reported to hit the market last year, there has yet to be a significant price drop on these \u2013 or any other sized property \u2013 in recent months.<\/p>\n\n<table id=\"tablepress-45\" class=\"tablepress tablepress-id-45\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Bedroom <br \/>\nType<\/th><th class=\"column-2\">Average <br \/>\nRent<\/th><th class=\"column-3\">Change <br \/>\nM-o-M<\/th><th class=\"column-4\">Change <br \/>\nY-o-Y<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/sitemaps\/us\/studio-apartments-for-rent\/\" target=\"_blank\" rel=\"noopener\">Studio<\/a><\/td><td class=\"column-2\">$1,165<\/td><td class=\"column-3\">0.1%<\/td><td class=\"column-4\">3.8%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/sitemaps\/us\/1-bedroom-apartments-for-rent\/\" target=\"_blank\" rel=\"noopener\">1 Bed<\/a><\/td><td class=\"column-2\">$1,182<\/td><td class=\"column-3\">0.1%<\/td><td class=\"column-4\">3.4%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/sitemaps\/us\/2-bedroom-apartments-for-rent\/\" target=\"_blank\" rel=\"noopener\">2 Beds<\/a><\/td><td class=\"column-2\">$1,385<\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">3.4%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/sitemaps\/us\/3-bedroom-apartments-for-rent\/\" target=\"_blank\" rel=\"noopener\">3 Beds<\/a><\/td><td class=\"column-2\">$1,606<\/td><td class=\"column-3\">0.0%<\/td><td class=\"column-4\">3.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-45 from cache -->\n<h2>Luxury Rents Get Less Luxurious<\/h2>\n<p>Though national rents decreased by just $9, <a href=\"https:\/\/www.rentcafe.com\/blog\/cities\/atlanta-ga\/luxury-is-the-trend-in-new-rental-construction\/\">luxury rentals<\/a> saw a slightly more significant price drop. The average luxury rent was $1,554 for February \u2014 down nearly a full percent from last month\u2019s $1,568. The last time luxury rents were at a similar price point was in April 2016.<\/p>\n<p>In January, luxury rents rose 0.4% over the previous month and more than 3% annually. Before that, luxury rents saw six months of stability, hovering in the low-$1,550s thanks in large part to an influx of high-end properties that hit the market in 2015. There\u2019s no telling if 2017 will see a similar luxury market, but February\u2019s slight dip is promising for the <a href=\"https:\/\/www.rentcafe.com\/blog\/apartmentliving\/luxury-apartments\/1-2-million-more-wealthy-renters-in-10-years\/\" target=\"_blank\" rel=\"noopener\">1.7 million wealthy households that currently rent<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78919\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-Luxury-Average-Rent-February-2017.jpg\" alt=\"national_average_rent_luxury_apartments\" width=\"1093\" height=\"620\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-Luxury-Average-Rent-February-2017.jpg 1093w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-Luxury-Average-Rent-February-2017.jpg?resize=500,284 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-Luxury-Average-Rent-February-2017.jpg?resize=768,436 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/National-Luxury-Average-Rent-February-2017.jpg?resize=150,85 150w\" sizes=\"auto, (max-width: 1093px) 100vw, 1093px\" \/><\/p>\n<h2>San Francisco Rents Continue Downward Trend; Southern Cities Reign Most Affordable<\/h2>\n<p>With a history of apartment shortages, rent hikes and unaffordability, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>San Francisco<\/strong><\/a> has never been known as the ideal renter\u2019s market. But according to recent data, that could be poised to change. In fact, the city <strong>saw the biggest year-over-year drop in rent prices in the entire nation last month<\/strong>, decreasing by 3.6%. Optimism should be tempered, of course. The city\u2019s average rent of $3,300 comes in well above the national average and significantly more than its own <a href=\"https:\/\/www.rentcafe.com\/blog\/cities\/san-francisco-rents-level-off-in-4q-13\/\" target=\"_blank\" rel=\"noopener\">average rents just five years ago<\/a>. Still, February\u2019s numbers do spell an improving market on the horizon.<\/p>\n<p>San Francisco aside, the South came in as February\u2019s best region for rent growth \u2014 or, in these cities\u2019 cases, rent drops. Two <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ok\/\">Oklahoma<\/a> cities, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tulsa-ok\/\" target=\"_blank\" rel=\"noopener\">Tulsa<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oklahoma-city-ok\/\" target=\"_blank\" rel=\"noopener\">Oklahoma City<\/a>, saw 2.2% and 1.9% rent drops respectively, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/corpus-christi-tx\/\">Corpus Christi, TX<\/a>, saw a 2% decrease as well. All three came in well under the national average rent, with Tulsa\u2019s at just $667 per month.<\/p>\n<p>Other cities to see rent drops over the year were <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tx\/\">Texas<\/a>&#8216;\u00a0 <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\" target=\"_blank\" rel=\"noopener\">Houston<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/el-paso-tx\/\">El Paso<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oakland-ca\/\">Oakland<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\">San Jose<\/a> in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/\">California<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\" target=\"_blank\" rel=\"noopener\">Manhattan<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\" target=\"_blank\" rel=\"noopener\">Boston<\/a>.<\/p>\n<p><script id=\"infogram_0_monthlyreport_february_2017_lowest_rental_growth\" title=\"MonthlyReport-February-2017-Lowest-Rental-Growth\" src=\"\/\/e.infogr.am\/js\/dist\/embed.js?ffL\" type=\"text\/javascript\"><\/script><\/p>\n<h2>California Cities Line List of Top Rent Growers; Small Towns Mesa, Fort Worth, St. Paul Jump, too<\/h2>\n<p>As usual, many of California\u2019s bigger cities came in at the top of the rent growth list, with <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/stockton-ca\/\">Stockton<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sacramento-ca\/\">Sacramento<\/a> locking down the No. 1 and No. 2 spots. Stockton\u2019s rent jumped 12.3% over the year, while Sacramento\u2019s rose 10.7%. Another six California cities made the top 20 list, including <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/riverside-ca\/\">Riverside<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/anaheim-ca\/\">Anaheim<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fresno-ca\/\">Fresno<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/long-beach\/\">Long Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\" target=\"_blank\" rel=\"noopener\">Los Angeles<\/a>\u00a0and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chula-vista-ca\/\">Chula Vista<\/a>.<\/p>\n<p>The bigger story is the smaller, less populated cities that are seeing serious rent growth, like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/az\/\">Arizona<\/a>&#8216;s <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mesa-az\/\">Mesa<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\" target=\"_blank\" rel=\"noopener\">Phoenix<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/st-paul-mn\/\">St. Paul<\/a> in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mn\/\">Minnesota<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tn\/\">Tennessee<\/a>&#8216;s <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\">Nashville<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-worth-tx\/\">Fort Worth<\/a> in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tx\/\">Texas<\/a>. Mesa actually saw a 6.6% increase year-over-year, while Fort Worth and St. Paul both came in at or over the $1,000 mark. Just one year ago, a one-bedroom unit in Fort Worth cost just $811.<\/p>\n<p>&#8220;Much of the recent growth in secondary markets is the result of a combination of economic and supply factors&#8221;, says Yardi Matrix senior analyst Doug Ressler. &#8220;While demand for apartment living is robust, many of these markets lack adequate supply and rents are rising accordingly.&#8221;<\/p>\n<p>&#8220;Moreover, renting becomes a more viable alternative to homeownership as the rise and the potential future rise in interest rates is a higher (more difficult) barrier for the first-time home buyer,&#8221; he added.<\/p>\n<p>The increasing population migration to Texas and the Southeast markets \u2014 mainly supported by the attractive employment sector (Millennials) and low <a href=\"https:\/\/www.rentcafe.com\/cost-of-living-calculator\/\">cost of living<\/a> (retiring Baby Boomers) \u2014 is expected to keep pushing rents up in fast-growing cities such as Fort Worth, Nashville, and Phoenix.<\/p>\n<p><script id=\"infogram_0_monthlyreport_february_2017_top_20_fastest_growing_cities\" title=\"MonthlyReport-February-2017-Top 20 Fastest Growing Cities\" src=\"\/\/e.infogr.am\/js\/dist\/embed.js?TEg\" type=\"text\/javascript\"><\/script><\/p>\n<h2>NC Sees Serious Rent Growth; Red Flags Go Up in Chapel Hill<\/h2>\n<p>All eyes are on <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nc\/\">North Carolina<\/a> after the state saw a jaw-dropping month for rent growth in February. Little <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/gastonia-nc\/\" target=\"_blank\" rel=\"noopener\">Gastonia<\/a> experienced a 9.3% jump in rents, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chapel-hill-nc\/\" target=\"_blank\" rel=\"noopener\">Chapel Hill<\/a> rose more than 6%<\/strong>. The latter is worrisome for North Carolina renters: With an average rent of $1,257 per month, it\u2019s already the most expensive rental market in the state. Throw in a speedy rent growth rate, and it could spell an affordability problem for many of the city\u2019s residents. The growth could be due, in part, to the city\u2019s job market, which <a href=\"https:\/\/www.forbes.com\/sites\/jeffkauflin\/2017\/02\/24\/the-best-cities-for-health-care-jobs\/#688e8c7955bf\" target=\"_blank\" rel=\"noopener\">Forbes recently ranked No. 1<\/a> for those in healthcare fields.<\/p>\n<p>Fortunately, <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\" target=\"_blank\" rel=\"noopener\">Charlotte<\/a> remains a haven for North Carolina renters<\/strong>, with an average rent of just over $1,100 and a glut of readily available inventory around town. The city saw an increase of just 2.9% for the year \u2014 well below the national average. As far as rent growth goes, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/burlington-nc\/\" target=\"_blank\" rel=\"noopener\"><strong>Burlington<\/strong><\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/high-point-nc\/\" target=\"_blank\" rel=\"noopener\"><strong>High Point<\/strong><\/a> <strong>saw the least year-over-year change<\/strong>, coming in at $827 and $752 per month, respectively.<\/p>\n<p>Other North Carolina cities that recorded notable rent increases include <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cary-nc\/\">Cary<\/a> (3.7%), <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/huntersville-nc\/\">Huntersville<\/a> (3.5%), <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/durham-nc\/\">Durham<\/a> (3.4%) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/concord-nc\/\">Concord<\/a> (3.2%).<\/p>\n<p><script id=\"infogram_0_monthlyreport_february_2017_in_the_spotlight\" title=\"MonthlyReport-February-2017-In the Spotlight\" src=\"\/\/e.infogr.am\/js\/dist\/embed.js?YU0\" type=\"text\/javascript\"><\/script><\/p>\n<h2>Top 3 Most Expensive Rentals in North Carolina in February 2017<\/h2>\n<p><strong>Monthly Rent<\/strong>: $10,000<br \/>\n<strong>Address<\/strong>:\u00a01001 Colville Road, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\">Charlotte, NC<\/a> 28207<br \/>\n<strong>Photo credit:<\/strong><em> <a href=\"https:\/\/www.point2homes.com\/US\/Houses-For-Rent\/NC\/Raleigh\/Budleigh.html\" target=\"_blank\" rel=\"noopener\">Point2 Homes<\/a><\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78922\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/1001-colville-rd-charlote.jpg\" alt=\"colville_charlotte_apartments\" width=\"890\" height=\"400\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/1001-colville-rd-charlote.jpg 890w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/1001-colville-rd-charlote.jpg?resize=500,225 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/1001-colville-rd-charlote.jpg?resize=768,345 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/1001-colville-rd-charlote.jpg?resize=150,67 150w\" sizes=\"auto, (max-width: 890px) 100vw, 890px\" \/><\/p>\n<p><strong>Monthly Rent<\/strong>: $7,500<br \/>\n<strong>Address<\/strong>:\u00a02512 Lewiswood Lane, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/raleigh-nc\/\">Raleigh, NC<\/a> 27608<br \/>\n<strong>Photo credit:<\/strong><em> <a href=\"https:\/\/www.point2homes.com\/US\/Houses-For-Rent\/NC\/Raleigh.html\" target=\"_blank\" rel=\"noopener\">Point2 Homes<\/a><\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78925\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/2512-lewiswood-lln.jpg\" alt=\"lewiswood_apartments_nc\" width=\"890\" height=\"400\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/2512-lewiswood-lln.jpg 890w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/2512-lewiswood-lln.jpg?resize=500,225 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/2512-lewiswood-lln.jpg?resize=768,345 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/2512-lewiswood-lln.jpg?resize=150,67 150w\" sizes=\"auto, (max-width: 890px) 100vw, 890px\" \/><\/p>\n<p><strong>Monthly Rent<\/strong>: $6,675<br \/>\n<strong>Address<\/strong>: 1351 E. Morehead Street, Charlotte, NC 28204<br \/>\n<strong>Photo credit:<\/strong><em>\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments\/nc\/charlotte\/berkshire-dilworth\/default.aspx\" target=\"_blank\" rel=\"noopener\">RentCafe<\/a><\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78928\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/Berkshire-Dilworth.jpg\" alt=\"berkshire_dilworth_apartments_nc\" width=\"890\" height=\"400\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/Berkshire-Dilworth.jpg 890w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/Berkshire-Dilworth.jpg?resize=500,225 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/Berkshire-Dilworth.jpg?resize=768,345 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2017\/03\/Berkshire-Dilworth.jpg?resize=150,67 150w\" sizes=\"auto, (max-width: 890px) 100vw, 890px\" \/><\/p>\n<h2>Tides Rise on NE and Cali Coasts; Head Inward for Affordability<\/h2>\n<p>The <strong>nation\u2019s most expensive rents<\/strong> are no surprise, with uber-populated urban hubs like <strong>Manhattan<\/strong>, <strong>San Francisco<\/strong>, and <strong>Boston<\/strong> taking the top three spots. The rest of the top 10 is filled with <strong>Northeastern metropolises<\/strong> (<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jersey-city-nj\/\">Jersey City, NJ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/brooklyn-ny\/\">Brooklyn, NY<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\">Washington, D.C.<\/a>) and <strong>California beach towns<\/strong> (San Jose, Oakland, Los Angeles, and San Diego.)<\/p>\n<p>Head inward from those expensive coasts, and you\u2019ll find the nation\u2019s more affordable places, like <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/wichita-ks\/\">Wichita, KS<\/a>, which once again took the cake for the lowest rent prices in the country<\/strong>. Rents here averaged just $629 in February (down $2 over last month) and the city was No. 1 in affordability for the <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/rentcafe-apartment-market-report-september-2016\/\" target=\"_blank\" rel=\"noopener\">sixth month running<\/a>.<\/p>\n<p>Rounding out the list of most affordable cities were <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/toledo-oh\/\">Toledo, OH<\/a>; Tulsa and Oklahoma City, Oklahoma; El Paso, TX; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tucson-az\/\">Tucson, AZ<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/indianapolis-in\/\">Indianapolis<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/albuquerque-nm\/\">Albuquerque, NM<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/greensboro-nc\/\">Greensboro, NC<\/a>.<\/p>\n<p><script id=\"infogram_0_monthlyreport_february_2017_top10cities\" title=\"MonthlyReport-February-2017-Top10Cities\" src=\"\/\/e.infogr.am\/js\/dist\/embed.js?Qem\" type=\"text\/javascript\"><\/script><\/p>\n<p><strong>See where your city stands when it comes to rent growth and average rent prices by checking out this table:<\/strong><br \/>\n\n<table id=\"tablepress-46\" class=\"tablepress tablepress-id-46\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Rank<\/th><th class=\"column-2\">City<\/th><th class=\"column-3\">Average Rent<\/th><th class=\"column-4\">Change M-o-M<\/th><th class=\"column-5\">Change Y-o-Y<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Stockton, CA<\/td><td class=\"column-3\">$1,017<\/td><td class=\"column-4\">0.7%<\/td><td class=\"column-5\">12.3%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Sacramento, CA<\/td><td class=\"column-3\">$1,196<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">10.7%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Colorado Springs, CO<\/td><td class=\"column-3\">$1,014<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">9.5%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Arlington, TX<\/td><td class=\"column-3\">$926<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">7.5%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Riverside, CA<\/td><td class=\"column-3\">$1,366<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">7.4%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\">Mesa, AZ<\/td><td class=\"column-3\">$858<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">6.6%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\">Anaheim, CA<\/td><td class=\"column-3\">$1,677<\/td><td class=\"column-4\">0.8%<\/td><td class=\"column-5\">6.3%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\">Detroit, MI<\/td><td class=\"column-3\">$934<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">6.3%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\">Phoenix, AZ<\/td><td class=\"column-3\">$893<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">5.8%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">10<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\" target=\"_blank\" rel=\"noopener\">Tampa, FL<\/a><\/td><td class=\"column-3\">$1,166<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">5.7%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">11<\/td><td class=\"column-2\">Chula Vista, CA<\/td><td class=\"column-3\">$1,577<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">5.7%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">12<\/td><td class=\"column-2\">Nashville, TN<\/td><td class=\"column-3\">$1,242<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">5.6%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">13<\/td><td class=\"column-2\">St. Paul, MN<\/td><td class=\"column-3\">$1,155<\/td><td class=\"column-4\">0.7%<\/td><td class=\"column-5\">5.4%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">14<\/td><td class=\"column-2\">Los Angeles, CA<\/td><td class=\"column-3\">$2,196<\/td><td class=\"column-4\">0.6%<\/td><td class=\"column-5\">5.4%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">15<\/td><td class=\"column-2\">Seattle, WA<\/td><td class=\"column-3\">$1,886<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">5.4%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">16<\/td><td class=\"column-2\">Fresno, CA<\/td><td class=\"column-3\">$931<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">5.3%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">17<\/td><td class=\"column-2\">Long Beach, CA<\/td><td class=\"column-3\">$1,808<\/td><td class=\"column-4\">-1.0%<\/td><td class=\"column-5\">5.2%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">18<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/las-vegas-nv\/\" target=\"_blank\" rel=\"noopener\">Las Vegas, NV<\/a><\/td><td class=\"column-3\">$906<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">5.2%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">19<\/td><td class=\"column-2\">Fort Worth, TX<\/td><td class=\"column-3\">$1,000<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">5.2%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">20<\/td><td class=\"column-2\">Tucson, AZ<\/td><td class=\"column-3\">$770<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">4.9%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">21<\/td><td class=\"column-2\">Indianapolis, IN<\/td><td class=\"column-3\">$806<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">4.7%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">22<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/minneapolis-mn\/\" target=\"_blank\" rel=\"noopener\">Minneapolis, MN<\/a><\/td><td class=\"column-3\">$1,422<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">4.6%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">23<\/td><td class=\"column-2\">Dallas, TX<\/td><td class=\"column-3\">$1,103<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">4.4%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">24<\/td><td class=\"column-2\">Kansas City, MO<\/td><td class=\"column-3\">$912<\/td><td class=\"column-4\">-0.7%<\/td><td class=\"column-5\">4.3%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">25<\/td><td class=\"column-2\">Cleveland, OH<\/td><td class=\"column-3\">$972<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">4.3%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">26<\/td><td class=\"column-2\">Louisville, KY<\/td><td class=\"column-3\">$878<\/td><td class=\"column-4\">0.8%<\/td><td class=\"column-5\">4.3%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">27<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/raleigh-nc\/\" target=\"_blank\" rel=\"noopener\">Raleigh, NC<\/a><\/td><td class=\"column-3\">$1,085<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">4.1%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">28<\/td><td class=\"column-2\">Henderson, NV<\/td><td class=\"column-3\">$1,066<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">4.1%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">29<\/td><td class=\"column-2\">Santa Ana, CA<\/td><td class=\"column-3\">$1,765<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">4.0%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">30<\/td><td class=\"column-2\">Columbus, OH<\/td><td class=\"column-3\">$847<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">3.8%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">31<\/td><td class=\"column-2\">San Diego, CA<\/td><td class=\"column-3\">$1,932<\/td><td class=\"column-4\">-0.6%<\/td><td class=\"column-5\">3.7%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">32<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/miami-fl\/\" target=\"_blank\" rel=\"noopener\">Miami, FL<\/a><\/td><td class=\"column-3\">$1,567<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">3.6%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">33<\/td><td class=\"column-2\">Greensboro, NC<\/td><td class=\"column-3\">$816<\/td><td class=\"column-4\">-0.4%<\/td><td class=\"column-5\">3.6%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">34<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/atlanta-ga\/\" target=\"_blank\" rel=\"noopener\">Atlanta, GA<\/a><\/td><td class=\"column-3\">$1,306<\/td><td class=\"column-4\">-0.2%<\/td><td class=\"column-5\">3.4%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">35<\/td><td class=\"column-2\">Albuquerque, NM<\/td><td class=\"column-3\">$814<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">3.2%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">36<\/td><td class=\"column-2\">Aurora, CO<\/td><td class=\"column-3\">$1,208<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">3.2%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">37<\/td><td class=\"column-2\">Jersey City, NJ<\/td><td class=\"column-3\">$2,799<\/td><td class=\"column-4\">0.7%<\/td><td class=\"column-5\">3.1%<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">38<\/td><td class=\"column-2\">Orlando, FL<\/td><td class=\"column-3\">$1,224<\/td><td class=\"column-4\">-0.2%<\/td><td class=\"column-5\">3.0%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">39<\/td><td class=\"column-2\">Jacksonville, FL<\/td><td class=\"column-3\">$957<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">2.9%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">40<\/td><td class=\"column-2\">Charlotte, NC<\/td><td class=\"column-3\">$1,105<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">2.9%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">41<\/td><td class=\"column-2\">Plano, TX<\/td><td class=\"column-3\">$1,238<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">2.7%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">42<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/baltimore-city-md\/\" target=\"_blank\" rel=\"noopener\">Baltimore, MD<\/a><\/td><td class=\"column-3\">$1,185<\/td><td class=\"column-4\">0.3%<\/td><td class=\"column-5\">2.6%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">43<\/td><td class=\"column-2\">New Orleans, LA<\/td><td class=\"column-3\">$1,085<\/td><td class=\"column-4\">-0.2%<\/td><td class=\"column-5\">2.6%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">44<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\" target=\"_blank\" rel=\"noopener\">Denver, CO<\/a><\/td><td class=\"column-3\">$1,441<\/td><td class=\"column-4\">-0.8%<\/td><td class=\"column-5\">2.5%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">45<\/td><td class=\"column-2\">San Antonio, TX<\/td><td class=\"column-3\">$969<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">46<\/td><td class=\"column-2\">Bakersfield, CA<\/td><td class=\"column-3\">$908<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">2.4%<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">47<\/td><td class=\"column-2\">Milwaukee, WI<\/td><td class=\"column-3\">$1,077<\/td><td class=\"column-4\">0.7%<\/td><td class=\"column-5\">2.3%<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">48<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/portland-or\/\" target=\"_blank\" rel=\"noopener\">Portland, OR<\/a><\/td><td class=\"column-3\">$1,434<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">2.1%<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">49<\/td><td class=\"column-2\">Omaha, NE<\/td><td class=\"column-3\">$849<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">2.0%<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">50<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\" target=\"_blank\" rel=\"noopener\">Chicago, IL<\/a><\/td><td class=\"column-3\">$1,749<\/td><td class=\"column-4\">0.5%<\/td><td class=\"column-5\">2.0%<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">51<\/td><td class=\"column-2\">Memphis, TN<\/td><td class=\"column-3\">$726<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">2.0%<\/td>\n<\/tr>\n<tr class=\"row-53\">\n\t<td class=\"column-1\">52<\/td><td class=\"column-2\">Newark, NJ<\/td><td class=\"column-3\">$1,102<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">1.9%<\/td>\n<\/tr>\n<tr class=\"row-54\">\n\t<td class=\"column-1\">53<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\" target=\"_blank\" rel=\"noopener\">Philadelphia, PA<\/a><\/td><td class=\"column-3\">$1,456<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">1.9%<\/td>\n<\/tr>\n<tr class=\"row-55\">\n\t<td class=\"column-1\">54<\/td><td class=\"column-2\">Toledo, OH<\/td><td class=\"column-3\">$661<\/td><td class=\"column-4\">0.2%<\/td><td class=\"column-5\">1.8%<\/td>\n<\/tr>\n<tr class=\"row-56\">\n\t<td class=\"column-1\">55<\/td><td class=\"column-2\">Lexington, KY<\/td><td class=\"column-3\">$849<\/td><td class=\"column-4\">0.1%<\/td><td class=\"column-5\">1.7%<\/td>\n<\/tr>\n<tr class=\"row-57\">\n\t<td class=\"column-1\">56<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cincinnati-oh\/\" target=\"_blank\" rel=\"noopener\">Cincinnati, OH<\/a><\/td><td class=\"column-3\">$903<\/td><td class=\"column-4\">-1.3%<\/td><td class=\"column-5\">1.6%<\/td>\n<\/tr>\n<tr class=\"row-58\">\n\t<td class=\"column-1\">57<\/td><td class=\"column-2\">Pittsburgh, PA<\/td><td class=\"column-3\">$1,102<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">1.3%<\/td>\n<\/tr>\n<tr class=\"row-59\">\n\t<td class=\"column-1\">58<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\" target=\"_blank\" rel=\"noopener\">Austin, TX<\/a><\/td><td class=\"column-3\">$1,289<\/td><td class=\"column-4\">-0.8%<\/td><td class=\"column-5\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-60\">\n\t<td class=\"column-1\">59<\/td><td class=\"column-2\">Virginia Beach, VA<\/td><td class=\"column-3\">$1,113<\/td><td class=\"column-4\">-0.6%<\/td><td class=\"column-5\">1.0%<\/td>\n<\/tr>\n<tr class=\"row-61\">\n\t<td class=\"column-1\">60<\/td><td class=\"column-2\">St. Louis, MO<\/td><td class=\"column-3\">$859<\/td><td class=\"column-4\">-0.2%<\/td><td class=\"column-5\">0.9%<\/td>\n<\/tr>\n<tr class=\"row-62\">\n\t<td class=\"column-1\">61<\/td><td class=\"column-2\">Lincoln, NE<\/td><td class=\"column-3\">$881<\/td><td class=\"column-4\">-0.8%<\/td><td class=\"column-5\">0.9%<\/td>\n<\/tr>\n<tr class=\"row-63\">\n\t<td class=\"column-1\">62<\/td><td class=\"column-2\">Wichita, KS<\/td><td class=\"column-3\">$629<\/td><td class=\"column-4\">-0.2%<\/td><td class=\"column-5\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-64\">\n\t<td class=\"column-1\">63<\/td><td class=\"column-2\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\" target=\"_blank\" rel=\"noopener\">Washington, DC<\/a><\/td><td class=\"column-3\">$2,008<\/td><td class=\"column-4\">-0.7%<\/td><td class=\"column-5\">0.6%<\/td>\n<\/tr>\n<tr class=\"row-65\">\n\t<td class=\"column-1\">64<\/td><td class=\"column-2\">Houston, TX<\/td><td class=\"column-3\">$1,043<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">-0.3%<\/td>\n<\/tr>\n<tr class=\"row-66\">\n\t<td class=\"column-1\">65<\/td><td class=\"column-2\">Oakland, CA<\/td><td class=\"column-3\">$2,394<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">-0.5%<\/td>\n<\/tr>\n<tr class=\"row-67\">\n\t<td class=\"column-1\">66<\/td><td class=\"column-2\">Boston, MA<\/td><td class=\"column-3\">$3,166<\/td><td class=\"column-4\">-0.3%<\/td><td class=\"column-5\">-0.5%<\/td>\n<\/tr>\n<tr class=\"row-68\">\n\t<td class=\"column-1\">67<\/td><td class=\"column-2\">El Paso, TX<\/td><td class=\"column-3\">$741<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">-0.7%<\/td>\n<\/tr>\n<tr class=\"row-69\">\n\t<td class=\"column-1\">68<\/td><td class=\"column-2\">San Jose, CA<\/td><td class=\"column-3\">$2,548<\/td><td class=\"column-4\">-0.1%<\/td><td class=\"column-5\">-0.7%<\/td>\n<\/tr>\n<tr class=\"row-70\">\n\t<td class=\"column-1\">69<\/td><td class=\"column-2\">New York City (Manhattan), NY<\/td><td class=\"column-3\">$4,094<\/td><td class=\"column-4\">-1.2%<\/td><td class=\"column-5\">-0.9%<\/td>\n<\/tr>\n<tr class=\"row-71\">\n\t<td class=\"column-1\">70<\/td><td class=\"column-2\">Oklahoma City, OK<\/td><td class=\"column-3\">$720<\/td><td class=\"column-4\">-0.6%<\/td><td class=\"column-5\">-1.9%<\/td>\n<\/tr>\n<tr class=\"row-72\">\n\t<td class=\"column-1\">71<\/td><td class=\"column-2\">Corpus Christi, TX<\/td><td class=\"column-3\">$956<\/td><td class=\"column-4\">0.0%<\/td><td class=\"column-5\">-2.0%<\/td>\n<\/tr>\n<tr class=\"row-73\">\n\t<td class=\"column-1\">72<\/td><td class=\"column-2\">Tulsa, OK<\/td><td class=\"column-3\">$667<\/td><td class=\"column-4\">-0.4%<\/td><td class=\"column-5\">-2.2%<\/td>\n<\/tr>\n<tr class=\"row-74\">\n\t<td class=\"column-1\">73<\/td><td class=\"column-2\">San Francisco, CA<\/td><td class=\"column-3\">$3,342<\/td><td class=\"column-4\">-0.5%<\/td><td class=\"column-5\">-3.6%<\/td>\n<\/tr>\n<tr class=\"row-75\">\n\t<td class=\"column-1\">74<\/td><td class=\"column-2\">New York City (Brooklyn), NY<\/td><td class=\"column-3\">$2,700<\/td><td class=\"column-4\">0.4%<\/td><td class=\"column-5\">-<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-46 from cache --><\/p>\n<p><strong>About RentCafe and How We Compiled the Data <\/strong><\/p>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noopener\">RentCafe<\/a> is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p>To compile this report, RentCafe\u2019s research team analyzed rent data across the 75 largest cities in the US. The report is exclusively based on apartment data related to buildings containing 50 or more units.<\/p>\n<p>Rent data was provided by <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\">Yardi Matrix<\/a>, an apartment market intelligence source and RentCafe\u2019s sister company which researches and reports on all multifamily properties of 50+ units across 124 markets in the United States. Rental rate coverage is for Market Rate properties only. Fully Affordable properties are not included in the Yardi Matrix rental surveys and are not reported in rental rate averages.<\/p>\n<p>Based on <a href=\"https:\/\/www.yardimatrix.com\/About-Us\/Our-Methods\/How-We-Define-The-Apartment-Rental-Market\" target=\"_blank\" rel=\"noopener\">Yardi Matrix\u2019s definition and classification<\/a> of the apartment market by rental household segments, high-end or luxury rental properties are those that fall into the discretionary (Class A+\/A) and high mid-range (Class A-\/B+) class categories.<\/p>\n<p>Starting with the January rent survey, Yardi Matrix is using a methodology that incorporates more properties into the sample which caused slight changes in overall rents and year-over-year changes compared to the previous reports. We expect this methodology adjustment to produce more accurate averages at the national and metro levels.<\/p>\n<p><em>*National averages include 124 markets across the US, not just the 75 cities featured in the report.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: The average U.S. apartment rent decreased by $9 in February, reaching $1,306 according to Yardi Matrix. Luxury rents have dropped for the month, hitting $1, 554. This marks a nearly 1% decrease over January. California cities make up the bulk of the rent-growth list, with eight of the top 20 cities located within&hellip;<\/p>\n","protected":false},"author":39,"featured_media":78931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4245,3661,3659],"tags":[],"class_list":["post-52197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apartment-rent-report","category-market-snapshots","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Francisco Rents Continue Downward Trend; Southern Cities Reign Most Affordable<\/title>\n<meta name=\"description\" content=\"San Francisco, though still boasting one of the nation\u2019s highest rents, saw the biggest y-o-y rent drop in the nation for February, decreasing 3% over the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/rentcafe-apartment-market-report-february-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nashville, San Francisco Rents Continue Downward Trend; Southern Cities Reign Most Affordable\" \/>\n<meta property=\"og:description\" content=\"San Francisco, though still boasting one of the nation\u2019s highest rents, saw the biggest year-over-year rent drop in the nation for February, decreasing 3% over the year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/rentcafe-apartment-market-report-february-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-14T07:12:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-16T12:59:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2012\/04\/Fotolia_2244544_Subscription_XL.jpg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Rents Remain Stable for February; 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