National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units were up 3.9% coming in at $1,008. Two-bedroom units came in at $1,230, which is down 2.71% 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.
“June capped a 6-month slide that looked like it might continue into July. This didn’t exactly happen as both national 1-bedroom and 2-bedroom unit averages stopped the decline and nudged upward. While there are pockets of both strength and weakness, if inflationary pressures persist and the economy stays afloat, landlords may breathe a sigh of relief, and tenants may start to worry.”