Rental prices for single-family homes have skyrocketed to record levels across the U.S., increasing to an average of 7.8 percent in 2021. Apartment rents are up too.
“Of the markets in our analysis, 97.7 percent recorded price increases for one-bedrooms and all markets saw increases for two-bedrooms [100 percent],” the report, issued last month, said. “Nationwide rent prices have increased significantly year-over-year. One- and two-bedroom rents were up 24.4 percent and 21.8 percent, respectively.”
The average rent price for a one-bedroom was $1,684 and $1,997 for a two-bedroom.
The report listed the eight U.S. cities that have seen the largest increase in one-bedroom rent year-over-year. Six of those cities — Orlando, Florida; Huntington Beach, California; Chandler, Arizona; Jersey City, New Jersey; and Amarillo, Texas — have a population of 300,000 or less:
- Long Beach, CA (+56.7 percent)
- Chandler, AZ (+50.8 percent)
- Amarillo, TX (+46.6 percent)
- Huntington Beach, CA (+44.9 percent)
- Jersey City, NJ (+43.6 percent)
- Orlando, FL (+42.4 percent)
- Irvine, CA (+39.2 percent)
- Austin, TX (+36.9 percent)
- Portland, OR (+34.2 percent)
- Mesa, AZ (+30.6 percent)