Press release from Apartment List:
With only two months left in 2022, renters will get some welcomed relief. After a year and a half of record-setting rent hikes, the market appears to be turning a corner. The national median rent decreased by 0.7% in October, the second straight monthly decline and the largest single-month dip in the history of our index, going back to 2017. The cooldown is widespread, with rents down this month in 89 of the nation’s 100 largest cities.
For the latest data, see our November Rent Report, complete with median rent and price growth data through October 2022. Some highlights below:
- Rents in Asheville increased 0.2% month-over-month in September, compared to a 0.7% decrease nationally.
- Year-over-year rent growth in Asheville currently stands at 4.3%, compared to 31.6% at this time last year. Rents in Asheville are up by 41.7% since the start of the pandemic in March 2020.
- Median rents in Asheville currently stand at $1356 for a 1-bedroom apartment and $1686 for a two-bedroom.
Check out the full report here, and for a complete look at national trends, read our national report. Our raw rent stats – for cities, metros, and states – can also be downloaded at any time from this page.