Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
MidwestMultifamily

Apartment rents keep growing — but just by a bit

Dan Rafter June 21, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Apartment rents across the country continue to rise. But the rate at which they are increasing is the slowest the sector has seen in 18 months.

That’s the key finding from the latest RENTCafe report on the rent trends in the 260 largest cities in the United States. This latest report from the company is yet more evidence that the apartment market, despite being strong, is not quite as hot as it was just two years ago.

The report also confirms that the country’s most affordable urban rentals tend to be in the Midwest.

According to RENTCafe, the national average apartment rent hit $1,442 in May, meaning that the average renter is paying $35 more a month. The national average rent is up 2.5 percent from the same month a year earlier. That is growth, yes, but that growth is sluggish compared to past years when average apartment rents increased at a far faster pace.

Rents in 14 of the 20 largest U.S. renter hubs are now below this national average. The Indianapolis area ranks as the most affordable of these large renter hub areas, with the average monthly apartment rent here standing at $863. The Columbus area is the second most affordable large renter hub, with an average rent of $925.

The most affordable individual big city for renters? That remains Wichita, Kansas, where the average monthly apartment rent is $647. Tulsa, Oklahoma, is second at $691 and Toledo, Ohio, is third at $715.

The list of the most expensive renter cities is not a surprising one. Manhattan tops it, with an average monthly rent of $4,200. San Francisco, $3,648, is second, while Boston, with an average monthly rent of $3,342, comes in third.

Tags
apartment rentsColumbusIndianaIndianapolisKansasmultifamilyOhioOklahomaRENTCafeToledoTulsaWichita
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
TexasCRE

Beck Group Names new leader of Austin office

January 27, 2023
TexasRetail

Partners arranges 3,215-square-foot retail lease with Pork Chop Screen Printing in Austin

January 27, 2023
TexasOffice

Partners Real Estate brokers sale of office building on 0.5 acres in Dallas

January 27, 2023
TexasIndustrial

Partners Real Estate arranges 47,332-square-foot industrial lease for SUNRGY Solar Distribution in Missouri City

January 27, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com