Across the U.S., rent prices have steadily increased since 2016, and in 2019, we saw a 3 percent average increase in one-bedroom apartments over 2018. But that doesn't mean you can't find a city with a rent decrease.
When we looked at April 2020 and compared it to last year, we saw a substantial rent decrease in average one-bedroom prices in many places across America.
And many of these cities and towns are desirable locations in parts of the country where rent is notoriously expensive (we're looking at you, Southern California and Boston area).
While none of these cities will appear in our list of cheapest places to live, each one saw a year-over-year average rent decrease of more than 15 percent. Seeing is believing, so keep scrolling to see the 25 cities with the largest rent price decrease over the past year.
Located 15 miles from Sacramento, Rancho Cordova boasts a true suburban lifestyle with plenty of outdoor opportunities such as Effie Yeaw Nature Center, Ancil Hoffman Park and Lake Natoma, where you can spot bald eagles.
A one-bedroom apartment decreased 16.38 percent in Rancho Cordova compared to last year. On average, it will cost you $1,217 per month.
Famous for being the birthplace of Olympic figure skater Nancy Kerrigan, the small town of Stoneham has a rural New England-style downtown area with good schools. Stoneham is less than 10 miles from Boston — you can get that small-town feel while being near the city.
You can now get a one-bedroom apartment for $2,193 per month on average — that's a $500 drop over last year.
Stretching some three miles, Virginia Beach's boardwalk packs in plenty of shopping and dining overlooking its stunning beaches. It's not hard to get why Virginia is for lovers. A sunset walk along the oceanfront and to nearby ViBe Creative District can be a great weekend activity.
If Virginia is calling your name, know that you can get a one-bedroom apartment on average for $1,209 a month. That's an 18.25 percent decrease over last year.
Did you know that Peabody's original name was South Danvers? In 1868, it was named after George Peabody, following his philanthropy and founding of the Peabody Institute. The city has a robust history as an industrial hub, known for the tanneries that once lined the streets and as a site for automotive manufacturing in the early 20th century.
You can find a one-bedroom apartment in Peabody for $2,276 per month now, that's $512 less than last year during the same period.
West Hartford has made accolade list after accolade list for the best small cities in America and the best place to raise a family during the past few years. It's hard not to see the allure of a town with a "Where City Style meets Village Charm" motto.
If weekends at the West Hartford Reservoir sound heavenly, the area has experienced an 18.77 percent decrease in one-bedroom rents this year on average.
California's rent prices are infamous for being some of the highest in the nation. But in Santa Rosa, you can see a decrease of 19.19 percent in one-bedroom apartment rents on average. In the last year, prices have decreased to $1,980 a month, from $2,450 last year.
Let's say cheers to that with some of the local bottles available, as Santa Rosa is the epicenter of wine country.
Mountain views, hiking trails and more outdoor activities than we can count, Spokane Valley offers a real adventure for outdoor enthusiasts. The Iller Creek Conservation Area gives hikers a run for their money with incredible views and challenging trails.
The fresh air is truly enticing, and Spokane Valley has seen a rent decrease of 19.42 percent in one-bedroom apartments on average. Scoop a good spot for $1,176 a month.
Is Georgia on your mind? Part of the metro Atlanta area, Austell offers the excellent school system of Cobb County and the tranquility of suburban life with only 6,581 residents, as of the last U.S. Census. If you're looking for theme park thrills, Six Flags over Georgia is nearby.
You can grab a one-bedroom apartment for less than $1,000 per month in Austell at a 19.42 percent decrease from 2019.
The Texas town of Rockwall gets its name from the natural-occurring underground rock structures found during excavations in 1851. The city continues to attract new residents with its tight-knit community, live music festivals and excellent bass and catfish fishing.
You can hook a one-bedroom apartment in the area for $1,526 a month, a rent decrease of 19.93 percent compared to last year.
Residents of Haslett count down to summer every year and head down to Lake Lansing, the heart of this Michigan town. Equipped with beaches, trails and fishing amenities, Lake Lansing is a great place for kids to have fun in the water and cool off.
The small community has experienced a drastic drop in rent prices. You can rent a one-bedroom apartment for $615 a month on average at this time — a 20.12 percent drop.
Surf's up! Huntington Beach offers beautiful beaches and some awesome waves for surfers to take advantage of. It takes its nickname, Surf City, very seriously. The city's mild climate also attracts residents who just aren't into winter.
Are you thinking about a move to Huntingdon Beach? A one-bedroom apartment is now $2,194 a month, down 22.01 percent from last year.
Willoughby Hills has seen a 22.12 percent rent decrease over the last year, with an average one-bedroom rent of $868 a month. Nearby, in the North Chagrin Reservation, there's a local attraction called Squire's Castle. While the medieval castle look-a-like has a long history of neglect and vandalism, the 1890 gatehouse was recently renovated.
The park area around it has hiking trails and picnic areas so you can make a whole day out of it. And no, despite local folklore, the gatehouse is not haunted.
Montgomery, Alabama's state capital, has many famous historical and cultural landmarks around town, including from the Civil Rights Movement. Its economy, with a boost from a growing tech sector, is bringing jobs into the area.
A one-bedroom apartment in the area goes for $622 a month — a 22.28 percent decrease in the last year.
Berkeley has produced some of the greatest minds, including more than 100 Nobel Prize laureates, at the University of California, Berkeley. The city also has an expansive network of pedestrian pathways that flow through different neighborhoods for its residents.
Berkeley also has one of the least expensive rents in the Bay Area. When compared to April 2019, the city has experienced a 22.58 percent rent decrease. You can now find a one-bedroom apartment for $2,457 per month.
For Philadelphia and Harrisburg commuters, Reading is located halfway between the two in Southeastern Pennsylvania. A big landmark in the city of Reading is the Japanese-style pagoda at the top of Mount Penn overlooking the city — it's a great hike during a good weather day. It's one of the many green spaces the city has to offer its residents.
You can get a one-bedroom apartment for $1,376 per month, on average, a decrease of 22.64 percent over last year.
Leesburg's architecture and streets tell a deep history of its role in the War of 1812 as a temporary U.S. capital and during the Civil War. The Washington, D.C. suburb was named after Virginia colonist Thomas Lee.
Enjoy the picturesque downtown area and its many restaurants and breweries by renting a one-bedroom apartment nearby. Rent prices have decreased by 23.02 percent in Leesburg since 2019, at $1,722 per month on average.
Beaumont has built an economy around oil discovery with hundreds of companies established here along the banks of the Neches River. Thanks to its proximity to Louisiana, the city also has strong Cajun influences in its dialect and food. The nearby Village Creek State Park and Beaumont Botanical Gardens will keep you occupied on weekends while you save real cash on rent.
Beaumont saw rent prices decrease by 23.18 percent to $732 a month for a one-bedroom apartment on average.
If you're looking to spend time in nature and live in a tight-knit community, Happy Valley may be the place for you. According to recent census data, about 22,553 people are currently living in town by Mount Scott.
You can scoop up your dream one-bedroom apartment (maybe with a view?) for $1,309 per month on average, thanks to the 24.50 percent rent decrease in the last year.
Foxboro, or Foxborough, as it's also known, is the site of the Gillette Stadium, home to the New England Patriots. Residents of this Greater Boston area community live and breathe Patriots and football. If you've perfected your game day outfit, Foxboro may be for you.
You can find a one-bedroom apartment for $2,181 per month on average. That's $700 less than a year ago. The Tom Brady effect, maybe?
Known for its surfing and display of preserved Spanish architecture, the coastal city of Oceanside offers beach lovers an authentic SoCal vibe. The mild weather certainly makes this San Diego county city an excellent spot to move, especially after a 26.08 percent decrease in rent prices.
You can now get a one-bedroom apartment for $1,958 per month on average.
You guessed right! Sulphur was named after the sulfur mines that operated in the area in the early 20th century. The city's deep roots in Louisiana history draws visitors from everywhere to enjoy its festivals and food. Don't miss one of the oldest fairs in Louisiana, the Cal-Cam Fair. Every October, the festival celebrates the cultures of two local parishes by celebrating with music, local crafts and, of course, food. Anything that's baked or grown can be entered into the fair for prizes.
The city has experienced a 30.23 percent decrease in rent prices, taking our top-five spot in our cities where rent is getting cheaper list.
Right on the eastern bank of the Hudson River, Troy's proximity to Albany can be an upside for commuters looking for more affordable rents. Downtown Troy has revitalized its shopping fronts, including a wine shop, several boutiques and art galleries. On Saturdays, the Troy Waterfront Farmers' Market offers fresh produce, as well as food stalls with foods from around the world.
Even better, the city has been getting cheaper in the past year, with a 32.79 percent decrease in rent prices. You can now rent a one-bedroom for $938 per month on average.
Germantown originally was a railroad town, and the city is anchored by a railroad depot at its center. The Memphis suburb has a strong equestrian history — its streets are lined with life-sized horse sculptures, reflecting its many horse shows and competitions, including the Germantown Charity Horse Show every summer.
You'd have more than 25 parks within walking distance if you moved here. Better yet, rent prices have decreased significantly, and you can rent a one-bedroom for $1,217 a month on average.
Breweries, cultural attractions and state parks make Maple Grove very family-friendly. The Elm Creek Park Reserve offers nearly 5,000 acres of camping, hiking and water amenities. You can also spot the largest Hindu temple in the state nearby.
The family-friendly city has seen decreases in rent prices over the last year — you can rent a one-bedroom for $1,064 per month on average, a drop of 39 percent.
One of the fastest-growing cities in northern California, West Sacramento also takes the No. 1 spot for the most significant percentage of rent decrease. Rents in the city adjacent to the Sacramento River have decreased by 43.49 percent in the past year.
You can now enjoy its many museums on the weekends by renting a one-bedroom for $2,115 per month on average — that's $1,628 in monthly savings.
From local economies to amenities offered, these 100 cities have been experiencing significant rent decreases in the past year. If you're looking for a deal, look below for the right fit.
|Rank||City||State||Average 1-BR Rent||YoY Rent % Change|
|61||Salt Lake City||UT||$1,419||-10.37%|
|90||West New York||NJ||$2,515||-8.80%|
|99||Elk Grove Village||IL||$1,223||-8.04%|
Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com's multifamily rental property inventory from April 2019 to April 2020. We use a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets. Cities were excluded if they did not have an average of at least 50 properties in our available inventory during that time period.
The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.