ATLANTA, Jan. 28, 2020 /PRNewswire/ -- Apartment Guide has released its 2020 Rent Report, which shows the average rent price for studio, one-bedroom, two-bedroom and three-bedroom apartments increased nationwide. According to the findings, the average one-bedroom apartment rented for about $1,540 in 2019, up about 3% from the previous year. In fact, the report finds prices for all unit sizes rose by a larger percentage year over year, with the exception of studio apartments.
However, several large cities that are notorious for exceptionally high prices actually saw decreases in average rent over the same time period. Rent prices in the three cities with the highest average monthly apartment prices (New York, San Francisco and Boston) dropped across the board in 2019.
"Affordability remains a major concern for apartment renters across the country," says Ryan Davis, Chief Product and Marketing Officer, Business for Apartment Guide's parent company, RentPath. "While high demand is contributing to price increases nationwide, there are neighborhoods and communities in almost every city that are more reasonably priced. Renters just need to shop around and determine what location and costs make sense for them."
In addition to highlighting national trends, the Apartment Guide Rent Report also finds:
- One region where rent prices are increasing at a faster rate than anywhere else in the country
- Surprising states and cities where one-bedroom rent prices increased and decreased the most in 2019
- The specific renter demographics who feel rent prices are too high and which renter groups are most satisfied with their living conditions
- An overwhelming majority of renters eventually want to own a home, but their short-term housing plans contradict that goal
Read the full report for additional insights and details on these emerging trends.
About Apartment Guide
Apartment Guide was a rental industry leader long before its website debut 20 years ago. This trusted legacy brand — now part of the RentPath family of digital brands — has a team of editors and experts who help make every stage of the rental journey easier. From hot tips and cool hacks to helpful articles and videos, Apartment Guide creates content that empowers renters by boosting their knowledge and confidence. The Apartment Guide website also contains apartment listings across the United States, including in college destinations.
About RentPath
RentPath is a leading digital marketing solutions company, that empowers millions nationwide to find apartments and houses for rent. Through its brands, RentPath continues to simplify the rental search experience while driving quality advertiser leads that result in occupancies and a high return on investment. With powerful online and mobile solutions that provide prospective renters with the information and tools they need, RentPath connects consumers with a home that reflects their personal lifestyles.
RentPath helps people navigate the rental journey by providing a delightful, stress-free experience so that all renters find and enjoy their ideal home.
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SOURCE Apartment Guide
