Key Highlights

  • Spurred by pandemic and remote working, many opted to live in new surroundings
  • As result, some cities experienced gain in rental prices and some experienced losses

Comparison of Rental Prices from April 2020 to April 2021

We all know that the COVID pandemic and remote working have heavily impacted both housing prices and rental prices in cities across the US.

Focusing in on rent prices for two-bedroom apartments, here are…

The Top 10 Cities with the Fastest Growing Rent Prices from April 2020 to April 2021

  • Sacramento CA – +21.2% at $2,521
  • Las Vegas NV – +45.6% at $1,997
  • Henderson NV – +22.1% at $1,997
  • Scottsdale AZ – +36.8% at $3,125
  • Detroit MI – +31.1% at $2,320
  • Tucson AS -+28.8% at $1,336
  • Arlington TX – +27% at $1,667
  • Buffalo NY – +41.9% at $1,853
  • Virginia Beach VA – +24.8% at $1,671
  • Orlando FL -+23.6% at $2,228

The average percentage that most rent prices increased y/y came in at +30.3%.

The Top Cities with the Fastest Declining Rent Prices

  • San Jose CA – -14.7% at $3,054
  • Seattle WA – -26.3% at $2,884
  • Fort Worth TX – -14.1% at $1,335
  • San Antonio TX – -14.2% at $1,218
  • Garland TX – -12.7% at $1,423
  • Fort Wayne IN – -14.5% at $839
  • Lexington KY – -17.7% at $976
  • Petersburg FL – -12.8% at $1,474
  • Miami FL – -20.5% at $2,385
  • New York NY – -20.3% at $2,432

The average percentage that most rent prices decreased y/y came in at -16.8%.

Top 5 Cities with Largest Rental Price Increase from April 2020 to April 2021

  • Las Vegas NV – +45.6%
  • Buffalo NY – +41.8%
  • Scottsdale AZ – +36.8%
  • Detroit MI – +31.4%
  • Tucson AZ – +28.8%

Top 5 Cities with Largest Rental Price Decrease from April 2020 to April 20

  • Seattle WA – -26.3%
  • Miami FL – -20.5%
  • Philadelphia – -20.3%
  • Lexington KY – -17.7%
  • San Jose CA – -14.7%

 

Thanks to howmuch.net and Apartment Guide’s latest Rent Report, May 2021.

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