National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in September slightly rose 0.86% to $1,022 (still down year to date) with two-bedroom units coming in at $1,294 (up 3.19% year to date). 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.
“…As the Fed continues to raise interest rates, however, and the economy continues to heat up; while unemployment is low, and the single-family home shortage shows no signs of abatement, it follows that both one and two-bedroom unit prices will continue, on average, to rise.”
