National apartment listing site ABODO recently released their Annual Rent Report highlighting national trends for 2016-2017. Using over a million listings from all across the U.S., they determined the average price of a 1-bedroom apartment for each city, state as well as the whole country. They report that the average renter in 2016 paid $1,001 per month. It’s interesting data especially when you correlate it with the reports we’ve seen from other sources.
“…if 2016 was any indication, rents in 2017 will continue to rise. The continuing revitalization of aging urban cores — especially in the South and the Midwest — has made renting an attractive option for both young professionals and boomers looking to move back into the city….”
