Cities with the Largest Rent Swings in September
Digested from National Apartment Report: September 2016 in Abodo (9/13/16)
In September, Miami and Bakersfield, California, share the top spot for highest jump in rents. Each city experienced a 9 percent increase compared with August rents, according to apartment listing company Abodo.
However, the average rent in these two cities is not similar: The average cost for a one-bedroom in Miami rose to $1,739 in September, while the one-bedroom average in Bakersfield was $725.
Philadelphia had a 7 percent jump from August to September, and Fresno, California; Detroit; and Riverside, California, all saw one-bedroom rents increase by 6 percent.
Meanwhile, the city charting the biggest fall in one-bedroom rent was Seattle, posting a 13 percent average decrease to $1,890. In San Jose, California, rents fell by 12 percent, and Los Angeles saw an 8 percent dip. Boston; Charlotte, North Carolina; and Long Beach, California, all saw a 6 percent decrease in the average cost of a one-bedroom.