{"id":89725,"date":"2019-10-15T05:47:55","date_gmt":"2019-10-15T12:47:55","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=89725"},"modified":"2022-10-06T04:20:13","modified_gmt":"2022-10-06T11:20:13","slug":"september-2019-national-rent-report","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/september-2019-national-rent-report\/","title":{"rendered":"The National Average Rent Declined for the First Time in Two Years, Dipping to $1,471"},"content":{"rendered":"<h3><strong><em>Key takeaways:<\/em><\/strong><\/h3>\n<ul>\n<li><em>The national average rent went up by 3.2% in the past year but dipped by 0.1% month-over-month, reaching $1,471 in September according to data from <a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a>.<\/em><\/li>\n<li><em>Apartment rates in a majority of small and large cities registered either minor decreases or stagnated.\u00a0<\/em><\/li>\n<li><em>In more than half of the nation&#8217;s largest renter hubs rent prices waned since August.\u00a0<\/em><\/li>\n<\/ul>\n<p><script id=\"infogram_0_dc37e154-fac7-4bcf-a9f6-30a355ffeacd\" title=\"National Average Rent Evolution_September2019\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?nCE\" type=\"text\/javascript\"><\/script><\/p>\n<h3>The first monthly decline in over two years brings the U.S. average rent down to $1,471<\/h3>\n<p>As part of a seasonal respite, the national average rent decreased for the first time since February 2017, dipping by\u00a0&#8211;<strong>0.1%\u00a0<\/strong>($1) from last month to\u00a0<strong>$1,471<\/strong>. The decrease might seem insignificant, but coupled with the slowest year-over-year hike in the past 13 months,\u00a0<strong>3.2%\u00a0<\/strong>($45), it points to a slight wind-down in rent prices in the context of a more volatile financial climate, according to Yardi Matrix.<\/p>\n<p><script id=\"infogram_0_9b597da7-6dde-457c-883d-f8c4f235bb67\" title=\"National Average Rent Evolution_September2019\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?WLs\" type=\"text\/javascript\"><\/script><br \/>\nSince last month, apartment rents saw minor declines in\u00a0<strong>more than half<\/strong>\u00a0of the cities we analyzed. Small and large cities lead the trend, with prices dropping in\u00a0<strong>59%<\/strong>\u00a0of small cities and\u00a0<strong>56%<\/strong>\u00a0of large cities, while\u00a0<strong>42%<\/strong>\u00a0of mid-sized cities saw their rates dwindle in September.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/provo-ut\/\"><strong>Provo, UT<\/strong><\/a>\u00a0rents decreased the most in the past month (-2.2%) followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/north-charleston-sc\/\"><strong>North Charleston, SC<\/strong><\/a> (-1.5%), energy boomtown <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/midland-tx\/\"><strong>Midland, TX <\/strong><\/a>(-1.5%), Bay Area tech hub <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-clara-hayward-ca\/\"><strong>Santa Clara<\/strong><\/a> (-1.3%), and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/portland-or\/\" target=\"_blank\" rel=\"noopener\"><strong>Portland<\/strong><\/a> (-1.2%). Meanwhile, the states of <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/\">California<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ny\/\">New York<\/a> saw the most substantial upticks since last month, with <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/syracuse-ny\/\"><strong>Syracuse<\/strong><\/a> (2.2%); <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/moreno-valley-ca\/\"><strong>Moreno Valley, CA<\/strong><\/a> (2.1%); <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\"><strong>Manhattan<\/strong><\/a> (1.5%); <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/torrance-ca\/\"><strong>Torrance, CA<\/strong><\/a> (1.4%); and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>Los Angeles<\/strong><\/a> (1.2%) leading the pack.<\/p>\n<p><em><strong id=\"map\">Check out the interactive map below to find out more about average rent prices in small, mid-sized, and large U.S. cities.<\/strong><\/em><\/p>\n<div id=\"viz1580193812648\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='#'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ap&#47;ApartmentMarketReport-September2019_v2&#47;RentReport&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"ApartmentMarketReport-September2019_v2\/RentReport\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Ap\/ApartmentMarketReport-September2019_v2\/RentReport\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1580193812648');                    var vizElement = divElement.getElementsByTagName('object')[0];                    vizElement.style.width='100%';vizElement.style.height=(divElement.offsetWidth*0.75)+'px';                    var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<h3>Apartment prices in more than half of the largest renter hubs dipped since August<\/h3>\n<div>\n<p>About two-thirds or<strong> 65%<\/strong> of the U.S. mega-hubs have rents below the national average, while <strong>35%<\/strong> have rates above. At the same time, <strong>55%<\/strong> of the largest renter hotspots saw apartment rents decrease since August, by as little as -0.1% in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\" target=\"_blank\" rel=\"noopener\"><strong>Tampa, FL<\/strong><\/a> ($1,320); <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\" target=\"_blank\" rel=\"noopener\"><strong>Charlotte, NC<\/strong><\/a> ($1,243); and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\"><strong>Jacksonville, FL<\/strong><\/a> ($1,091), and as much as +0.5% in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\" target=\"_blank\" rel=\"noopener\"><strong>Houston<\/strong><\/a> ($1,101).<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/indianapolis-in\/\"><strong>Indianapolis <\/strong>apartments<\/a>\u00a0cost $878 on average in September (after a 0.2% uptick from the prior month), the most affordable for renters living in the nation&#8217;s largest renting cities.\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/\"><strong>Columbus, OH<\/strong><\/a>\u00a0is the second most affordable, with a $947 monthly rate (up by 0.3% since August).\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-antonio-tx\/\"><strong>San Antonio, TX<\/strong><\/a>\u00a0($1,045) offers the third most affordable apartments, where prices have also seen a slim monthly dip of -0.2%. Meanwhile, <strong>Manhattan<\/strong>\u00a0continues its reign as the priciest renter hub in the nation, with its average rent reaching $4,336 in September (a hefty 1.5% increase compared to the prior month). <strong>Los Angeles<\/strong>\u00a0apartments go for $2,556 per month (up a solid 1.2% since August), while\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\"><strong>Washington, D.C.<\/strong> apartments<\/a> ($2,232) trail behind, after a 0.2% uptick since August.<\/p>\n<\/div>\n<div><\/div>\n<div><script id=\"infogram_0_0646f9c4-2461-40e1-9b83-a60c5eec53fc\" title=\"Avg Rent by MegaHubs - September-graph\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?GaK\" type=\"text\/javascript\"><\/script><\/div>\n<h3>Large cities in the New York area and the Bay Area show contrasting rent trends<\/h3>\n<p>Rents decreased in 3 of the nation\u2019s 5 priciest large cities since August, and only New York hubs saw increases since last month. While rents in the Bay Area waned, by -0.1% in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>San Francisco<\/strong><\/a>\u00a0($3,703) and -1.1% in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\"><strong>San Jose<\/strong><\/a>\u00a0($2,762), the average rents in\u00a0<strong>Manhattan<\/strong>\u00a0and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/brooklyn-ny\/\"><strong>Brooklyn<\/strong><\/a> ($2,956) shot up by 1.5% and 0.5% month-over-month, respectively. And in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\"><strong>Boston, MA<\/strong><\/a> ($3,505) rates also went down by 1.1% since August.<\/p>\n<p>The picture looks different in the top 5 most affordable large cities. The average price in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oklahoma-city-ok\/\"><strong>Oklahoma City, OK<\/strong><\/a>,\u00a0the cheapest in the category, decreased by a slight -0.1% over the month, reaching $774. However, rates in the rest of these cities all saw upticks, from 0.2% in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/indianapolis-in\/\"><strong>Indianapolis, IN<\/strong><\/a>\u00a0($878) to 0.5% in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/el-paso-tx\/\"><strong>El Paso, TX<\/strong><\/a>\u00a0($781) and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/memphis-tn\/\"><strong>Memphis, TN <\/strong><\/a>($811). The average price in\u00a0<strong>Columbus<\/strong>\u00a0($947), the last on the list of cheapest large cities, saw a slight 0.3% increase.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-89845\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_large-cities_map.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_large-cities_map.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_large-cities_map.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_large-cities_map.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_large-cities_map.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>Average apartment rents are most stable in mid-sized cities<\/h3>\n<p>In both the priciest and the cheapest mid-sized cities, rents showed more stability than in any other category, fluctuating by less than 1% since last month. In California, <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oakland-ca\/\">Oakland<\/a>\u2019s<\/strong>\u00a0($2,953) 0.5% monthly rent increase keeps it at the top of the list of most expensive mid-sized cities for renters. While apartment rents in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/long-beach\/\"><strong>Long Beach<\/strong><\/a>\u00a0($2,073) have remained stable,\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-ana-ca\/\"><strong>Santa Ana<\/strong><\/a>\u00a0($1,951) is inching closer to the $2,000 mark.\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/anaheim-ca\/\"><strong>Anaheim<\/strong><\/a>\u00a0($1,827) follows the two after a 0.6% increase, and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/miami-fl\/\" target=\"_blank\" rel=\"noopener\"><strong>Miami<\/strong><\/a>\u00a0($1,705) closes the ranking.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/wichita-ks\/\"><strong>Wichita, KS <\/strong>apartments<\/a> ($657) are the cheapest to rent regardless of size. Meanwhile, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tulsa-ok\/\"><strong>Tulsa, OK<\/strong><\/a>\u2019s $698 average takes second place. <a href=\"http:\/\/Tucson, AZ\"><strong>Tucson, AZ<\/strong><\/a> ($879); <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/albuquerque-nm\/\"><strong>Albuquerque, NM<\/strong><\/a> ($898); and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lexington-ky\/\"><strong>Lexington, KY<\/strong><\/a>\u00a0($916) fill the rest of the podium after their rents declined slightly.<\/p>\n<p><a href=\"#fulltable\">See the complete list of cities at the end of this report<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-89869\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_mid-size-cities_map_.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_mid-size-cities_map_.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_mid-size-cities_map_.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_mid-size-cities_map_.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_mid-size-cities_map_.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>Apartment prices in the most affordable small cities are all in the $700s<\/h3>\n<p>Rents decreased slightly in all of the priciest small cities for renters. Apartment prices in the most expensive small city,\u00a0<strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-mateo-ca\/\">San Mateo, CA<\/a>\u00a0<\/strong>($3,323), inched downwards by -0.5% in the past month. Runner-up\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cambridge-ma\/\"><strong>Cambridge, MA<\/strong><\/a>\u2019s average also decreased by -0.6% since August to $3,224.\u00a0Apartments in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sunnyvale-ca\/\"><strong>Sunnyvale, CA<\/strong><\/a> ($3,023) are -0.9% less expensive compared to the previous month, and apartments in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jersey-city-nj\/\"><strong>Jersey City, NJ <\/strong><\/a>by -0.2%\u00a0($2,950). Silicon Valley nexus\u00a0<strong>Santa Clara<\/strong>, the fifth most expensive in the category, saw the most significant decline, with its average rent shrinking by -1.3% to $2,931.<\/p>\n<p>The most affordable small cities for renters all posted rates in the $700s. After a -0.8% decrease, the average price in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/brownsville-tx\/\"><strong>Brownsville, TX<\/strong><\/a>, the cheapest town to rent in, reached $721. Though\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/toledo-oh\/\"><strong>Toledo, OH<\/strong><\/a>\u00a0apartment rents went up by 0.7%, it has the second-lowest rents in the category.\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/amarillo-tx\/\"><strong>Amarillo, TX<\/strong><\/a> ($741), comes in third with no changes since the previous month, while\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/killeen-tx\/\"><strong>Killeen, TX<\/strong><\/a>\u00a0($751), and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/independence-mo\/\"><strong>Independence, MO<\/strong><\/a>\u00a0($756) take up the fourth and fifth spots in the top 5 cheapest small cities for renters.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-89851\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_small-cities_map.png\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_small-cities_map.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_small-cities_map.png?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_small-cities_map.png?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_small-cities_map.png?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<h3>2-bedroom apartments are by far the most popular among renters<\/h3>\n<p>Traffic data from RentCafe.com shows two-bedroom apartments are the most popular among renters searching for new homes, making up 42% of searches on the website. The second most popular units have one-bedroom floor plans (30%). Three-bedroom apartments (15%) follow in popularity, while renters show the least interest in studios (12%).<\/p>\n<div>\n<div style=\"max-width: 700px; margin: 0 auto;\"><script id=\"infogram_0_618c1d8c-9270-4fb3-a2a8-545d88103bff\" title=\"Traffic Shares - Rent Report September\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?Ln1\" type=\"text\/javascript\"><\/script><\/div>\n<h3><strong>Curious about rents in cities like\u00a0<\/strong><strong id=\"fulltable\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin<\/a>,\u00a0<\/strong><strong id=\"fulltable\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\">Denver<\/a>, or <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\">Dallas<\/a>?\u00a0<\/strong><strong id=\"fulltable\">Check the average rent price in your city by using this interactive table:<\/strong><\/h3>\n<p><script id=\"infogram_0_98de8fbe-ba22-49a9-9c31-729a83185b6e\" title=\"Avg Rent by City Type - September\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?HRR\" type=\"text\/javascript\"><\/script><\/p>\n<h3>Check out the rent report for your area:<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/alabama-rent-report-september-2019\/\">Alabama<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/arkansas-rent-report-september-2019\/\">Arkansas<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/southern-california-rent-report-september-2019\/\">Southern California<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/central-valley-rent-report-september-2019\/\">Central Valley California<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/bay-area-rent-report-september-2019\/\">Bay Area California\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/colorado-rent-report-september-2019\/\">Colorado<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/connecticut-rent-report-september-2019\/\">Connecticut<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/cook-county-rent-report-september-2019\/\">Cook County Illinois<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/florida-rent-report-september-2019\">Florida<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/georgia-rent-report-september-2019\">Georgia<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/indiana-rent-report-september-2019\/\">Indiana<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/iowa-rent-report-september-2019\/\">Iowa<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-september-2019\/\">Kentucky<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/massachusetts-rent-report-september-2019\/\">Massachusetts<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/michigan-rent-report-september-2019\/\">Michigan<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/minnesota-rent-report-september-2019\/\">Minnesota<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/nebraska-rent-report-september-2019\/\">Nebraska<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-september-2019\/\">New Jersey<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-york-state-rent-report-september-2019\/\">New York State<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/north-carolina-rent-report-september-2019\/\">North Carolina<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/ohio-rent-report-september-2019\/\">Ohio<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oklahoma-rent-report-september-2019\/\">Oklahoma<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oregon-rent-report-september-2019\/\">Oregon<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/pennsylvania-rent-report-september-2019\/\">Pennsylvania<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/tennessee-rent-report-september-2019\/\">Tennessee<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/texas-rent-report-september-2019\/\">Texas<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/utah-rent-report-september-2019\/\">Utah<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/seattle-metro-rent-report-september-2019\/\">Seattle Metro<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/wisconsin-rent-report-september-2019\/\">Wisconsin<\/a><\/li>\n<\/ul>\n<h3><strong><em>Methodology:<\/em><\/strong><\/h3>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>To compile this report, RentCafe\u2019s research team analyzed rent data across the 260 largest cities in the US.\u00a0 The data on average rents comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company <\/em><em><a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a><\/em><em>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. The national average rent includes over 133 markets across the U.S., including any that have been recently released, as reported by Yardi Matrix. RentCafe\u00a0compiles this report at the city level, unlike Yardi Matrix who prepares reports at the market level. The national rent value is derived from the core 60 markets with years of tracked data that makes a consistent basket of data. <\/em><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at <a href=\"mailto:media@rentcafe.com\" target=\"_blank\" rel=\"noopener noreferrer\">media@rentcafe.com<\/a>.<\/p>\n<p><!-- This site is converting visitors into subscribers and customers with OptinMonster - https:\/\/optinmonster.com --><br \/>\n<script type=\"text\/javascript\" src=\"https:\/\/a.optmnstr.com\/app\/js\/api.min.js\" data-account=\"63393\" data-user=\"56204\" async=\"\"><\/script><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: The national average rent went up by 3.2% in the past year but dipped by 0.1% month-over-month, reaching $1,471 in September according to data from Yardi Matrix. Apartment rates in a majority of small and large cities registered either minor decreases or stagnated.\u00a0 In more than half of the nation&#8217;s largest renter hubs&hellip;<\/p>\n","protected":false},"author":163,"featured_media":89857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4245,3660],"tags":[],"class_list":["post-89725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apartment-rent-report","category-real-estate-news","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>The National Average Rent Declined for the First Time in Two Years, Dipping to $1,471 - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"In September, the national average rent decreased for the first time since February 2017, dipping by\u00a0-0.1% from last month to\u00a0$1,471.\" \/>\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\/apartment-rent-report\/september-2019-national-rent-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The National Average Rent Declined for the First Time in Two Years, Dipping to $1,471\" \/>\n<meta property=\"og:description\" content=\"In September, the national average rent decreased for the first time since February 2017, dipping by\u00a0-0.1% from last month to\u00a0$1,471.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/september-2019-national-rent-report\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-15T12:47:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-06T11:20:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/10\/Monthly-Report_sept_2019_featured-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Irina Lupa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Irina Lupa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/september-2019-national-rent-report\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/september-2019-national-rent-report\/\",\"name\":\"The National Average Rent Declined for the First Time in Two Years, Dipping to $1,471 - 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