National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in October dropped slightly to $1,020 (down 0.2%) with two-bedroom units coming in at $1,269 (down 2.7%). ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds.
“The economy is hot, unemployment is low, and inflation is beginning a more rapid increase. All these factors lead us to believe that rents are not going to fall swiftly any time soon.”