National apartment listing site ABODO recently reported that nationwide one-bedroom rental prices dropped by an average of .65% since the first of the year to an average of $1,000. The largest drop was experienced in Rochester, NY where average rents fell 8.7% to a median of $707. That was followed by Pittsburgh and Philadelphia, PA, both falling more than 6%. The largest rent increases went to Miami, FL (up 7%) and Lexington, KY (up 6.9%). The city with the highest rate? No surprises here…..It’s San Francisco at $3,499 followed by the New York City area at $2,796. ABODO produces their monthly National Reports by using over one million nationwide listings of 1-bedroom rentals, broken down by city, state and of course, price.
