Press release from ApartmentList.com
This month, our national rent index jumped another 2.1%, and rents are now up by a total of 15% since this time last year. Rent growth has cooled slightly from its July peak, but we’re still seeing significant price gains at a time when seasonality in the market normally causes a dip in rents.
Rents are still increasing in nearly all of the nation’s 100 largest cities, but with Boise, Idaho and Spokane, Washing marking notable exceptions where rents dipped this month. These markets have seen some of the nation’s fastest-growing rents over the past year, but it appears that they may have hit their peaks. Among the 100 largest cities, there are now just 5 remaining where rents are still below pre-pandemic levels.
For more analysis of the newest monthly data, check out our full October Rent Report.
Here are some highlights:
- Rents in Asheville increased 5.4% month-over-month, compared to 2.1% nationally.
- Year-over-year rent growth in Asheville currently stands at 28.3%, compared to -0.2% at this time last year.
- Median rents in Asheville currently stand at $1,304 for a one-bedroom apartment and $1,729 for a two-bedroom.
Check out the full report here. And as a reminder, the full details of our rent estimate methodology are explained here.
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