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…”