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AdvisorSmith Finds the Cities Where Rents Are Rising and Falling the Most
The cities with rents falling and rising the most were located in the Phoenix metropolitan area and the San Francisco Bay Area
The study examined rental prices in 540 U.S. cities and used rental prices of studios, one, two, three, and four-bedroom rental units. Rents from September 2020 were compared to the average rents in 2019. Each city's weighted increase or decrease in average rent was determined by each city's composition of rental housing units.
The study found that rents increased an average of 0.9 percent nationwide. Cities with the highest rent increases were those on the outskirts of large metropolitan areas, including cities around Atlanta, Phoenix, and Baltimore. Stockbridge, GA, was the city with the highest rent increase at 12.5 percent.
On the other hand, cities where rents fell the most were in some of the most expensive renters' cities. The top two cities with the fastest falling rents were located in Odessa and Midland, Texas. Also, cities in the San Francisco Bay Area, New York City, Boston, and Washington, D.C., were highly represented in the top 25.
To view the study, visit https://advisorsmith.com/
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