UpdatedFri, Feb 19, 2021 at 10:01 am CT
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Chicago is among the cities to see the steepest decline in rent prices across the U.S. In the past year, the cost of rent has decreased by 12.5 percent in the city. (Shutterstock)
CHICAGO AREA, IL While rent is on the rise in smaller, more-affordable U.S. cities, many of the country s largest metropolitan areas and coastal cities saw prices fall rapidly throughout most of 2020, illustrating how the COVID-19 pandemic had a starkly different effect on regional housing markets over the course of the year.
Chicago is among the cities to see the steepest decline in rent prices. In the past year, the cost of rent has decreased by 12.5 percent in the city. Meanwhile, suburban towns closer to the city on Apartment List s final National Rent Report of 202o, including Oak Park and Arlington Heights, have also seen a dip in rent, while towns farther out have seen increases.
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(Shutterstock)
PITTSBURGH, PA While rent is on the rise in smaller, more-affordable U.S. cities, many of the country s largest metropolitan areas and coastal cities saw prices fall rapidly throughout most of 2020, illustrating how the COVID-19 pandemic had a starkly different effect on regional housing markets over the course of the year.
Pittsburgh is among cities where rent prices dropped significantly during the pandemic, according to Apartment List s final National Rent Report of 2020.
To determine the change in rent prices over the course of the year, Apartment List used its own rent estimates from December 2019 through December 2020. To determine its rent estimates, the company uses median rent statistics from the U.S. Census Bureau s American Community Survey.
Rental Prices Rose During Pandemic In Grand Rapids
Since the coronavirus pandemic began, many medium and large sized metropolitan areas in the United States saw a dip in rental prices as people left crowded cities for smaller towns. However, Grand Rapids and it s metro area saw just the opposite, an increase in rental pricing.
Since January of 2020, average rental prices have grown an estimated 3.8% year to year in Grand Rapids. According to a study by Apartment List, that sets rental prices to about:
Median One-Bedroom Rent: $868
Median Two-Bedroom Rent: $1,110
Those prices are pretty average compared to similarly sized cities, but the increase of 3.8% is well above the national average, which was actually a decrease of 1.5% in rental prices in 2020.
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Lakewood is among cities where rent prices dropped slightly during the pandemic, according to a new report. (Amber Fisher/Patch)
LAKEWOOD, CO While rent is on the rise in smaller, more-affordable U.S. cities, many of the country s largest metropolitan areas and coastal cities saw prices fall rapidly throughout most of 2020, illustrating how the COVID-19 pandemic had a starkly different effect on regional housing markets over the course of the year.
Lakewood is among cities where rent prices dropped slightly during the pandemic, according to Apartment List s final National Rent Report of 2020.
To determine the change in rent prices over the course of the year, Apartment List used its own rent estimates from December 2019 through December 2020. To determine its rent estimates, the company uses median rent statistics from the U.S. Census Bureau s American Community Survey.
Rent Prices In Arlington Heights Dropped Amid Pandemic - Arlington Heights, IL - Apartment List recently released its final National Rent Report of 2020. See how much rent prices across the U.S. increased.