{"id":97885,"date":"2020-01-15T02:01:09","date_gmt":"2020-01-15T10:01:09","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=97885"},"modified":"2022-09-12T02:04:45","modified_gmt":"2022-09-12T09:04:45","slug":"year-end-rent-report-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/year-end-rent-report-2019\/","title":{"rendered":"2019 Year-End Rent Report &#8211; Rents Slide in December, Kicking-Off the New Year at $1,474"},"content":{"rendered":"<h2><strong><em>Key takeaways:<\/em><\/strong><\/h2>\n<ul>\n<li><em>The U.S. average rent ended the year with a 3% ($43) increase since last December, but decreased by a slight 0.1% ($1) month-over-month, dipping to $1,474 according to data from\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix.<\/a><\/em><\/li>\n<li><em>Phoenix displayed the fastest annual rent increase in 2019 among renter mega-hubs, 9.8%, while Houston rents saw the slowest rise, 1.4%.\u00a0<\/em><\/li>\n<li><em>Wichita, KS remains the country\u2019s most affordable city for renters, at $663 per month, while the average monthly rent in Manhattan is $4,211.<\/em><\/li>\n<\/ul>\n<p><script id=\"infogram_0_f60c573d-30b3-4ce1-89fb-1b6a831b1163\" title=\"National Average Rent Evolution_December2019\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?Dop\" type=\"text\/javascript\"><\/script><\/p>\n<h2><strong>At year-end, the national average rent sees the slowest annual rise in 17 months<\/strong><\/h2>\n<p>Nationally, apartments were renting for <strong>$1,474<\/strong> on average at the end of 2019, after the slowest annual rise in the past 17 months, <strong>3%<\/strong>. Furthermore, rates displayed a slower yearly growth at the end of 2019 than in the previous year, when they went up by 3.2% according to apartment rent data from <strong><a href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a><\/strong>. In net dollars, renters are now paying <strong>$43<\/strong> more per month for an apartment than they did in December 2018. By comparison, in the previous year, they saw a\u00a0<strong>$45<\/strong>\u00a0rent hike compared to 2017.<\/p>\n<p>The winddown comes after a decade of <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-rent-report\/renting-america-housing-changed-past-decade\/\">thriving apartment construction<\/a> in which over 2.4M units were built across the nation.\u00a0<em><strong>The U.S. economy remains strong while developers continue to deliver apartments in multiple locations. The apartment industry has made great strides since the great recession of 2008 and will remain a strong economic engine as we enter the new decade,<\/strong><\/em> says Doug Ressler, Manager of Business Intelligence at Yardi Matrix.<\/p>\n<p>The national average rent also saw two consecutive monthly dips, declining by a slight <strong>0.1%<\/strong> in both November and December. As fewer people look for new apartments during the cold season, rents usually slow down or decline, explaining why last month, prices flatlined in 94% of the cities we analyzed and shrunk in another 3%. Only 3% of cities saw apartment rents increase since November.<\/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=\"viz1578571098137\" 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-December2019&#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-December2019\/RentReport\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Ap\/ApartmentMarketReport-December2019\/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('viz1578571098137');                    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<h2>Rates increased in all the largest renter hubs last year<\/h2>\n<p>As more and more Americans have been shifting to renting, rates in all the most popular renter hubs went up in the past year.\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\"><strong>Phoenix<\/strong><\/a> ($1,123) posted the quickest growth in 2019, shooting up by <strong>9.6%<\/strong> or $98. It\u2019s also the only renter mega-hub that saw rates go up by more than <strong>6%<\/strong>. The average rent in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/las-vegas-nv\/\" target=\"_blank\" rel=\"noopener\"><strong>Las Vegas<\/strong><\/a> ($1,107) trails from behind after a <strong>6%<\/strong> increase, followed by <strong>Austin<\/strong> ($1,436), where rates inflated by <strong>5%. <\/strong>Phoenix, Las Vegas, and Austin are the star cities of 2019\u2014they&#8217;re among the job hubs <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/renting-america-housing-changed-past-decade\/#migration\">Americans are flocking to<\/a> in search of a great deal and a great lifestyle, bringing about an upsurge in apartment prices.<\/p>\n<p>On the other hand, the average rent in\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\"><strong>Houston<\/strong><\/a> ($1,109) rose the least in the past 12 months, by a modest <strong>1.4%<\/strong>. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/orlando-fl\/\" target=\"_blank\" rel=\"noopener\"><strong>Orlando<\/strong><\/a> ($1,423) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\" target=\"_blank\" rel=\"noopener\"><strong>Manhattan<\/strong><\/a> ($4,211) follow suit with the second and third slowest yearly increases, <strong>1.6%<\/strong> and <strong>1.9%<\/strong>, respectively. The three cities are the only ones where prices went up by less than 2% year-over-year, as both Houston and Orlando built a healthy supply of new apartments in the past few years. Manhattan, meanwhile, is in line with expectations, as rents in pricey urban areas have been rather slow-paced in the last couple of years.<\/p>\n<p><script id=\"infogram_0_6aed73a7-a357-4836-90e2-a15ff788c76d\" title=\"Avg Rent by MegaHubs - December-graph\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?Glc\" type=\"text\/javascript\"><\/script><\/p>\n<h2>Manhattan was the nation&#8217;s priciest large city throughout 2019<\/h2>\n<p>New York and California dominated the top 5 priciest large cities for renters throughout 2019, with exclusive <strong>Manhattan<\/strong> ($4,211) remaining at the top of the podium at the end of the year. Meanwhile, rates may have decreased by $14 in runner-up\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>San Francisco<\/strong><\/a> ($3,688) in December, but still saw moderate year-over-year growth ($75). <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\"><strong>Boston\u2019s<\/strong><\/a> $3,438 average rent comes in third after a notable $121 rise in the past year, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/brooklyn-ny\/\" target=\"_blank\" rel=\"noopener\"><strong>Brooklyn<\/strong><\/a> ($2,929) is inching closer to the $3,000 threshold, with its prices going up by $101. However, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>San Jose<\/strong><\/a> goes against the grain\u2014it\u2019s the only large city where rates actually decreased year-over-year, by $32.<\/p>\n<p>Rounding up the top 10 list were San Jose, CA; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/queens-ny\/\" target=\"_blank\" rel=\"noopener\">Queens, NY<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\" target=\"_blank\" rel=\"noopener\">Los Angeles<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\" target=\"_blank\" rel=\"noopener\">Washington, DC<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-diego-ca\/\" target=\"_blank\" rel=\"noopener\">San Diego<\/a>; and Seattle. These cities were followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\" target=\"_blank\" rel=\"noopener\">Chicago<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\" target=\"_blank\" rel=\"noopener\">Philadelphia<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\" target=\"_blank\" rel=\"noopener\">Denver<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/portland-or\/\" target=\"_blank\" rel=\"noopener\">Portland, OR<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\" target=\"_blank\" rel=\"noopener\">Austin, TX<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\" target=\"_blank\" rel=\"noopener\">Nashville, TN<\/a>.<\/p>\n<p>The five most affordable large cities for renters all have rents below $1,000. <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oklahoma-city-ok\/\" target=\"_blank\" rel=\"noopener\">Oklahoma City<\/a>\u2019s<\/strong> average rent increased by $30 in the past year, reaching $784. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/el-paso-tx\/\"><strong>El Paso<\/strong><\/a> ($792), the runner-up, saw prices go up by $20, while <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/memphis-tn\/\" target=\"_blank\" rel=\"noopener\">Memphis<\/a> ($818) comes in third after a $32 year-over-year increase.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/indianapolis-in\/\" target=\"_blank\" rel=\"noopener\">Indianapolis, IN<\/a> is the fourth most affordable large city when it comes to renting, with average rents reaching $888, while rents in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/\" target=\"_blank\" rel=\"noopener\">Columbus, OH<\/a> increased only slightly, clocking in at an average of $945. That\u2019s still below rent prices in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/louisville-ky\/\" target=\"_blank\" rel=\"noopener\">Louisville, KY<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-antonio-tx\/\" target=\"_blank\" rel=\"noopener\">San Antonio, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/detroit-mi\/\" target=\"_blank\" rel=\"noopener\">Detroit<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\">Jacksonville, FL<\/a>; and Las Vegas \u2014 all of which are among the most affordable renter hubs in the country<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-97894\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-large-cities.jpg?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2>California dominated the priciest mid-size cities ranking last year<\/h2>\n<p>Four California cities were continually present in the priciest mid-size city rankings last year<strong>. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/oakland-ca\/\" target=\"_blank\" rel=\"noopener\">Oakland<\/a><\/strong> led the top 5 throughout 2019\u2014its average rent reached $2,908 in December, after a significant $151 annual rise since last year. Southland hotspots\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ca\/long-beach\/\"><strong>Long Beach<\/strong><\/a> ($2,124) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-ana-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>Santa Ana<\/strong><\/a> ($1,961) follow, with their average rates increasing by\u00a0$116 and $42, respectively. Usual suspect <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/anaheim-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>Anaheim<\/strong><\/a> and its $1,857 average rent (up $77 in the past year) is the last California city in the ranking.<\/p>\n<p>Other California cities in this year\u2019s overall ranking include Riverside, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sacramento-ca\/\" target=\"_blank\" rel=\"noopener\">Sacramento<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/stockton-ca\/\" target=\"_blank\" rel=\"noopener\">Stockton<\/a>, Bakersfield, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/santa-clara-ca\/\" target=\"_blank\" rel=\"noopener\">Santa Clara<\/a>, Pasadena, Daly City, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/glendale-ca\/\" target=\"_blank\" rel=\"noopener\">Glendale<\/a>, Irvine, Fremont, Burbank, Carlsbad, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/huntington-beach-ca\/\" target=\"_blank\" rel=\"noopener\">Huntington Beach<\/a>, Thousand Oaks, Hayward, Costa Mesa, Orange and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ventura-ca\/\" target=\"_blank\" rel=\"noopener\">Ventura<\/a>.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/wichita-ks\/\" target=\"_blank\" rel=\"noopener\"><strong>Wichita<\/strong><\/a>\u00a0($663) continues its reign as not only the most affordable mid-size city but the most affordable out of all cities in our report. Its average rate increased by a modest $20 in the past year, reaching $663 in December. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tulsa-ok\/\"><strong>Tulsa<\/strong> apartments<\/a> come in second ($712), with their prices going up by $29 year-over-year. The rent in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tucson-az\/\" target=\"_blank\" rel=\"noopener\"><strong>Tucson<\/strong><\/a> ($906), meanwhile, saw a $51 yearly increase.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/albuquerque-nm\/\" target=\"_blank\" rel=\"noopener\">Albuquerque, NM<\/a>; Lexington, KY; Omaha, NE; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/saint-louis-mo\/\" target=\"_blank\" rel=\"noopener\">St. Louis, MO<\/a>; and Corpus Christi, TX, also emerged as affordable mid-size cities in this year\u2019s ranking. These locations were followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/kansas-city-mo\/\" target=\"_blank\" rel=\"noopener\">Kansas City, MO<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/arlington-tx\/\" target=\"_blank\" rel=\"noopener\">Arlington, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/bakersfield-ca\/\" target=\"_blank\" rel=\"noopener\">Bakersfield, CA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cleveland-oh\/\" target=\"_blank\" rel=\"noopener\">Cleveland, OH<\/a>; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mesa-az\/\" target=\"_blank\" rel=\"noopener\">Mesa, AZ<\/a>.<\/p>\n<p><a href=\"#fulltable\">See the complete list of cities at the end of this report<\/a><\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-97897\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-mid-size-cities.jpg?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2>Toledo displaced Brownsville as the most affordable small city for renters<\/h2>\n<p><strong>Toledo<\/strong> ($729) comes in first in the top 5 most affordable small cities for renters, after dethroning Brownsville in May. However,\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/brownsville-tx\/\"><strong>Brownsville&#8217;s<\/strong><\/a>\u00a0$733 average rate closely follows, even though it increased by\u00a0$42\u00a0year-over-year. Prices in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/amarillo-tx\/\" target=\"_blank\" rel=\"noopener\"><strong>Amarillo<\/strong><\/a>, meanwhile, went up $23\u00a0in the past year, reaching $758 in December.<\/p>\n<p><strong>San Mateo<\/strong> maintains its position at the top of the priciest small cities ranking. Its rent increased by $74 year-over-year, up to $3,288 in December. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cambridge-ma\/\"><strong>Cambridge\u2019s<\/strong><\/a> average rate takes second place after a substantial $127 yearly increase. <strong>Sunnyvale<\/strong> ($2,940) chugged along to third place after a modest $32 increment.<\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-97900\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg\" alt=\"\" width=\"900\" height=\"639\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg?resize=500,355 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg?resize=768,545 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2020\/01\/december_rent-report_map-small-cities.jpg?resize=150,107 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h2>Most renters searched for 2-bedroom apartments last year<\/h2>\n<p>With 46% renters searching for\u00a0<strong>2-bedroom apartments<\/strong> in 2019, they\u2019re the most sought-after homes on\u00a0<a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">RentCafe.com<\/a>. <strong>1-bedroom apartments<\/strong> are the second most popular, as 27% of potential renters looked for these types of units last year. Meanwhile, <strong>3-bedroom apartments<\/strong> and <strong>studios<\/strong> come in third and last, making up 16% and 12% of searches, respectively.<br \/>\n<script id=\"infogram_0_37d23eb7-451d-40f6-9b3f-797c94854a2b\" title=\"Traffic Shares - Rent Report December\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?wiR\" type=\"text\/javascript\"><\/script><\/p>\n<p>When it comes to Google searches, potential renters put proximity first\u2014a whopping 59.8% of last year&#8217;s queries were for the keywords\u00a0<strong>apartments near me<\/strong>. <strong>Studio<\/strong> (9.8%) was the second most-searched-for term associated with apartments, while <strong>cheap<\/strong> (9.6%) came in third, revealing a budget-oriented mindset among renters.<\/p>\n<p><script id=\"infogram_0_2f4ce7a0-ba81-4bb6-9f95-5103abe058e7\" title=\"Year-End-report-2019\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?s1o\" type=\"text\/javascript\"><\/script><\/p>\n<h3><\/h3>\n<div>\n<h3><strong id=\"fulltable\">Curious about rents in cities like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\">Philadelphia<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\">Charlotte<\/a>, or <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin<\/a>? See the average rent price in your city by using this interactive table:<\/strong><\/h3>\n<p><script id=\"infogram_0_d6572b1e-add6-404a-bccc-b8829daa1bb8\" title=\"Avg Rent by City Type - December\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?2cJ\" 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-year-end-2019\/\">Alabama<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/arkansas-rent-report-year-end-2019\/\">Arkansas<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/southern-california-rent-report-year-end-2019\/\">Southern California<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/central-valley-rent-report-year-end-2019\/\">Central Valley California<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/bay-area-rent-report-august-2019\/\">Bay Area California\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/colorado-rent-report-year-end-2019\/\">Colorado<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/connecticut-rent-report-year-end-2019\/\">Connecticut<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/cook-county-rent-report-year-end-2019\/\">Cook County Illinois<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/florida-rent-report-year-end-2019\/\">Florida<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/georgia-rent-report-year-end-2019\/\">Georgia<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/indiana-rent-report-year-end-2019\/\">Indiana<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/iowa-rent-report-year-end-2019\/\">Iowa<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-year-end-2019\/\">Kentucky<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/massachusetts-rent-report-year-end-2019\/\">Massachusetts<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/michigan-rent-report-year-end-2019\/\">Michigan<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/minnesota-rent-report-year-end-2019\/\">Minnesota<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/nebraska-rent-report-year-end-2019\/\">Nebraska<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/new-jersey-rent-report-year-end-2019\/\">New Jersey<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/upstate-new-york-rent-report-year-end-2019\/\">New York State<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/north-carolina-rent-report-year-end-2019\/\">North Carolina<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/ohio-rent-report-year-end-2019\/\">Ohio<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oklahoma-rent-report-year-end-2019\/\">Oklahoma<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/oregon-rent-report-year-end-2019\/\">Oregon<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/pennsylvania-rent-report-year-end-2019\/\">Pennsylvania<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/tennessee-rent-report-year-end-2019\/\">Tennessee<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/utah-rent-report-year-end-2019\/\">Utah<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/seattle-metro-rent-report-year-end-2019\/\">Seattle Metro<\/a><\/li>\n<li><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/wisconsin-rent-report-year-end-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.\u00a0The 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 130 markets across the U.S., as reported by Yardi Matrix.<\/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 U.S. average rent ended the year with a 3% ($43) increase since last December, but decreased by a slight 0.1% ($1) month-over-month, dipping to $1,474 according to data from\u00a0Yardi Matrix. Phoenix displayed the fastest annual rent increase in 2019 among renter mega-hubs, 9.8%, while Houston rents saw the slowest rise, 1.4%.\u00a0 Wichita,&hellip;<\/p>\n","protected":false},"author":163,"featured_media":97891,"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-97885","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>2019 Year-End Rent Report - Rents Slide in December, Kicking-Off the New Year at $1,474 - RentCafe rental blog<\/title>\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\/year-end-rent-report-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2019 Year-End Rent Report - Rents Slide in December, Kicking-Off the New Year at $1,474\" \/>\n<meta property=\"og:description\" content=\"Key takeaways: The U.S. average rent ended the year with a 3% ($43) increase since last December, but decreased by a slight 0.1% ($1) month-over-month, dipping to $1,474 according to data from\u00a0Yardi Matrix. 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