ABODO study: Apartment rents starting to rise again

The average one-bedroom apartment is renting for $1,016 a month this June across the United States, according to a recent report from ABODO.

That’s up a bit from the lowest point of the year, an average of $1,003 in March.

The good news for renters in the heart of the country is that only two Midwest markets — Tulsa and Toledo — saw a significant increase in rent from May to June, according to the ABODO report. In Tulsa, the average rent for a one-bedroom apartment rose 6.6 percent in June. In Toledo, that figure rose 5.3 percent.

ABOD said that the average one-bedroom apartment rented for $663 in Tulsa in May, but $707 in June.

Two Midwest cities made ABODO’s list of the 10 markets in which apartment rents dropped the most in June. In St. Paul, Minnesota, the average one-bedroom rented for $1,382 in May and $1,331 in June, a drop of 3.7 percent, the second-steepest in the ABODO survey.

In St. Louis, the average one-bedroom rent fell 2.2 percent from May to June.

Only one Midwest city made the company’s top-10 list of highest monthly rents. In Chicago, which ranked ninth on ABODO’s list, the average one-bedroom apartment comes with a monthly rent of $1,789.

This entry was posted in Chicago Commercial Real Estate, Illinois, Illinois real estate, Minnesota real estate, Missouri commercial real estate, multi-family, Ohio commercial real estate, St. Louis real estate, St. Paul commercial real estate and tagged , , , , , , , , , , , . Bookmark the permalink.

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