ABODO study: Apartment rents falling across the Midwest since start of year

milwaukee-multifamilyby Dan Rafter

Apartment rents have taken a dip in two of Ohio’s largest cities this February, according to the latest national apartment report from ABODO.

ABODO, an apartment-search Web site, reported that the median rent for one-bedroom apartment units dropped 4.7 percent in February when compared to the start of the year. In Cincinnati, the median rent for a one-bedroom apartment fell 4.4 percent, according to ABODO’s research.

In Cincinnati, the median one-bedroom rent stood at $785 in February. In Cleveland, that number was $627, according to ABODO.

Other Midwest cities saw dips in median apartment rents, too. ABODO reported that in Chicago, the median one-bedroom apartment rent stood at $1,787 in February, a drop of 0.9 percent from January. In Nashville, the median one-bedroom rent was $1,470, down 5.8 percent from the start of 2016.

In Kansas City, Missouri, median one-bedroom rents dropped 2.7 percent to $881, while in Omaha, February’s median one-bedroom apartment rent of $803 represented a drop of 0.7 percent. And in Lincoln, Nebraska, the median one-bedroom rent fell 4.5 percent since the start of the year, dropping to $765.

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This entry was posted in Chicago Commercial Real Estate, Cincinnati commercial real estate, Cleveland commercial real estate, Illinois, Illinois real estate, Kansas City commercial real estate, Kansas Commercial real estate, Lincoln, Missouri commercial real estate, multi-family, Nashville, Nebraska real estate, Ohio commercial real estate, Omaha commercial real estate, Tennessee and tagged , , , , , , , , , , , , , . Bookmark the permalink.

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