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The Highest and Lowest Rents by Asset Class

Digested from “Where are the Best Apartment Rent Values Found? The Highest, Lowest Average Rents by Asset Class”
Axiometrics (11/9/15) Gore, Sophie Zatterstrom

Renters in Oklahoma City are paying some of the lowest apartment rents across all three asset classes, while San Francisco apartment dwellers are paying some of the highest.

According to Axiometrics’ September 2015 data on the top 50 metropolitan statistical areas (MSAs), Oklahoma City’s Class A average rent was the lowest at $982 per unit. Indianapolis came in second at $1,038, followed by Columbus, Ohio, at $1,098.

MSAs with the highest average Class A rents in September were New York at $5,132 per month, followed by San Francisco ($4,043) and Boston ($3,414).

For Class B properties, Oklahoma City rent remained the lowest at $694, followed by Memphis ($769) and Indianapolis ($774). The highest Class B rents were found in San Francisco ($3,175), New York ($2,812) and San Jose, California ($2,707).

For Class C properties, Memphis, Tennessee, had the lowest average September rent at $554, followed by Oklahoma City ($566) and Columbus ($569). The highest Class C rents were found in San Francisco ($2,341), San Jose ($2,171) and Nassau County, New York ($1,652).

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