Rent Report: 26 states saw rental price increases in first half of 2017
A slight majority of states (26, plus the District of Columbia) saw rental increases over the first six months of 2017, with the largest average percent changes coming in South Carolina (7.3%), Maine (7.3%), Vermont (7.2%), and Rhode Island (7.0%). Source: Abodo
Over the first half of 2017, the national median rent fluctuated, but it ended up exactly where it began: $1,016 for a one-bedroom. Prices fell from January to March, bottoming out at $1,003 before creeping back up in the spring. In all, the national median rent always stayed within 1.3% of its starting value.
A slight majority of states (26, plus the District of Columbia) saw rental increases over the first six months of 2017, with the largest average percent changes coming in South Carolina (7.3%), Maine (7.3%), Vermont (7.2%), and Rhode Island (7.0%), Abodo's Midyear Rent Report reports. The greatest average decreases were significantly lower: Utah (-4.4%), Oklahoma (-3.3%), Pennsylvania (-2.7%), Connecticut (-2.3%).
The majority of states, 31, saw average changes in rent price of 1.3% or lower.
The states with the highest average rents will surprise no one. The District of Columbia had the highest average rent from January to July, with one-bedrooms going for $2,138 per month. Massachusetts ($1,896), California ($1,630), Hawaii ($1,572), and New York ($1,571) followed. The four states with the lowest average rents were all in the West or Southwest: South Dakota ($525), Wyoming ($596), Idaho ($613), and New Mexico ($620).
