ABODO: Rents Continue Downward Slide

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National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedrooms dropped slightly to $1,026.  This figure is down 1.9% since the beginning of the year and marks the third consecutive month of falling rent prices.  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.

“Bucking last year’s trends, national median one-bedroom rent prices continue their downward trend into April.  In 2017, April marked the beginning of a hot summer market. But in 2018, following five months of increases that broke in February, April is the third consecutive month of falling rent prices…”

Click here to read the full report on Abodo.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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