The latest analysis?of U.S. apartment rent was released from RENTCaf?. The national average rent for an apartment increased 3%, reaching $1,474 in December 2019. Renters were paying $43 more per month for an apartment than in December 2018. New York City is the most expensive place in the country to rent with a tenant having to fork over $4,211 per month on average.
The research also analyzed the cities experiencing the?biggest increases in rent with Phoenix in the first position. It saw a 9.6% spike between late 2018 and 2019 with the average rent now standing at $1,123. Las Vegas came second with 6% growth while Austin had the third-highest pace of growth with%.
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The U.S. Cities Where Apartment Rents Are Astronomical
San Francisco has the?highest rents for apartments?in the U.S. according to a?report from Zumper. Prospective tenants searching for an accommodation in the Bay Area will need extremely deep pockets with the median rental price for a one-room apartment there running to $3,330 per month.
New York City isn’t far behind on the list of astronomical rents. A one-bedroom flat in the Big Apple would cost $3,000 every month to rent while an extra bedroom would push that up to $3,400. Toledo, Ohio is at the very bottom of Zumper’s list with a rental prices for a one-bedroom apartment flat coming to just $440.
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