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Living February 6, 2019

Northeast home to nation’s highest rents as rates continue to climb, report says

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Looking to live in a city and rent on the cheap? Des Moines, Iowa, might be for you -- but New York City most definitely is not.

Apartment Guide released its 2019 Annual Rent Report, which provides a look at rent prices around the country, and compares the prices of studio, one-bedroom and two-bedroom apartments.

The findings also determine which cities are becoming more expensive and more affordable for renters.

In 2018, the Northeast remained the region with the highest rent.

PHOTO: Apartment rent rose in all four regions by 4 to 5 percent in 2018.
Apartment Guide
Apartment rent rose in all four regions by 4 to 5 percent in 2018.

According to the report, "Rental prices in the Midwest and South held at roughly 45 to 50 percent of those seen in the Northeast."

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Rent in the Midwest remained the lowest, with one-bedroom apartments averaging a little above $1,000.

PHOTO: Studio apartment rent rose nearly 5 percent in 2018.
Apartment Guide
Studio apartment rent rose nearly 5 percent in 2018.

In 2018, there was a slight increase for the average price of a two-bedroom apartment, rising from $1,302 to $1,354.

The rent for studio apartments rose at a higher rate -- close to 5 percent, reaching $1,065.

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In the most populated city in the United States, New York City, the average price of a studio apartment is a whopping $3,257.

On the other end of the spectrum, in the 100th most populated city -- Des Moines -- had an average studio rent of $870.

Rent in the 25 most populated cities in the U.S.

PHOTO: Rent in the 25 most populated cities in the U.S.
Apartment Guide
Rent in the 25 most populated cities in the U.S.

Cities where rent for a one-bedroom rose in 2018

1. Newark, NJ - $1,692
2. San Diego, CA - $2,300
3. Des Moines, IA - $1,016
4. Anchorage, AK - $1,150
5. Boise, ID - $1,062
6. Fort Wayne, IN - $$810
7. Chandler, AZ - $1,157
8. Wichita, KS - $863
9. Scottsdale, AZ - $1,478
10. Louisville, KY - $951

Cities where rent for a one-bedroom fell in 2018

1. New Orleans, LA - $1,418
2. Jersey City, NJ - $2,596
3. Madison, WI - $1,235
4. Corpus Christi, TX - $843
5. Portland, OR - $1,644
6. Houston, TX - $1,231
7. Nashville, TN - $1,408
8. Virginia Beach, VA - $1,092
9. Fort Worth, TX - $1,056
10. Long Beach, CA - $2,048


To see more statistics and the full report, click here.