Thursday, February 25

The further, the better: big cities live at an all-time low in rental prices



The crisis caused by the coronavirus pandemic forced many workers to work from home, and affected many others financially. This caused people to start moving to cities where life was cheaper.

According to the most recent National Rent Report from the Apartment List – which shows which are the cities where rent prices fluctuated the most between January 2020 and 2021 -, Large coastal cities, such as San Francisco and New York, had the largest rent decreases in those 12 months, while more affordable cities, such as Fresno, California, and Memphis, had the largest increases in rents, in accordance with The New York Times.

It should be noted that these trends have already started to slow down, as the cities of New York, Boston and San Jose, which had the biggest declines in rental prices in 2020, had slight spikes from December to January.

Likewise, the cities of Boise, Idaho, and Chesapeake, which are the cities with the greatest increase in rental prices during 2020, had slight decreases in the level of rents.

This could be an indicator that rental prices may be starting to stabilize.

Here are the 10 cities where the price of rent decreased the most:

1–San Francisco, where median rent fell from $ 2,685 to $ 1,959.
2 – New York, where median rent decreased from $ 2,020 to $ 1,591
3 – Seattle, where median rent decreased from $ 1,829 to $ 1,462
4 – Boston, where median rent decreased from $ 2,051 to $ 1,653
5 – Oakland, California where median rent decreased from $ 2,097 to $ 1,785
6 – Washington, where median rent decreased from $ 1,872 to $ 1,615
7 – Arlington, Virginia where median rent decreased from $ 2,073 to $ 1,790
8 – San Jose, California where median rent decreased from $ 2,338 to $ 2,045
9 – Chicago, where median rent decreased from $ 1,355 to $ 1,186
10 – Jersey City, where median rent decreased from $ 1,931 to $ 1,699

And the 10 cities where the median rent price rose the most were:

1–Boise, Idaho, where median rent increased from $ 931 to $ 1,047.
2 – Fresno, California, where the median rent increased from $ 1,137 to $ 1,260.
3 – Gilbert, Arizona, where median rent increased from $ 1,674 to $ 1,814.
4 – Chesapeake, where the median rent increased from $ 1,374 to $ 1,488.
5 – Bakersfield, California, where the median rent increased from $ 1,143 to $ 1,238.
6 – Albuquerque, where the median rent increased from $ 937 to $ 1,014.
7 – Greensboro, where the median rent increased from $ 943 to $ 1,016.
8 – Glendale, where the median rent increased from $ 1,134 to $ 1,219.
9 – North Las Vegas, Nevada, where median rent increased from $ 1,369 to $ 1,470.
10 – Memphis, where the median rent increased from $ 946 to $ 1,015.

–You may also be interested in: 3 Stimulus Check Scams You Should Beware of

style="display:block" data-ad-client="ca-pub-3066188993566428" data-ad-slot="4073357244" data-ad-format="auto" data-full-width-responsive="true">
eldiariony.com

Leave a Reply

Your email address will not be published. Required fields are marked *

LinkedIn
Share