When's the last time you heard about rent prices going down? Never? Yeah, we hear you. Apartment Guide research found that average rent prices went up by about 4 percent nationwide in 2018.
Ready for some good news? These cities represent the best kind of exception, bucking the national trend of rising rents.
We took a look at the U.S. Census Bureau's 100 most populated cities and our internal data of average one-bedroom apartment rental prices to pinpoint places across the country where rent decreased by the largest percentage over the last year.
Here are some of the cities where it's actually getting cheaper to live.
A few short years ago, around 100 people were moving to Music City every single day. Today, however, the population boom appears to be slowing down. This is apparently good news for rent prices, which are down nearly 3 percent this year.
These days, a one-bedroom apartment in Nashville will cost you around $1,452, down a cool forty bucks from this time a year ago.
What's up, Wichita? Located in America's heartland, Wichita proves that there's plenty to love about living in the Midwest. Beyond all that heart, there are the home-grown prices.
Just last year, a one-bedroom would have cost you a wallet-friendly $875. And today? How does $849 sound? If you're considering a move to the middle of the country, there's no time like the present.
Ever wonder what it's like to live on the western shore of Lake Michigan? And how do you feel about beer? This city's brewery scene goes much deeper than Miller or Milwaukee's Best.
Get to know the city by checking out the craft beer scene, then raise a glass to Milwaukee rent prices that have gone down more than 3 percent since this time last year.
Less than an hour and a half west of Milwaukee, the state's capital also happens to be a hopping college town. While it may not be one of the 25 most affordable college towns for renters, Madison is home of one of the top football schools in the country (we're looking at you, University of Wisconsin).
The sought-after scene here could be your reality for nearly 3.5 percent less than it would have cost you last year. If you move fast, you could snag a one-bedroom apartment in Madison for around $1,219 per year.
We know what you're thinking … New York? Really? Yes, really. The numbers don't lie and according to our data, rent prices here have gone down a significant 5.21 percent in the last year.
Before you pack up your life and move to the Big Apple to pursue an acting career, keep in mind you'll still pay about $4,041 for a one-bedroom apartment. But if you think that sounds steep, the good news is that price would have been $211 higher last year.
The Big Easy just got a little easier on the wallet. Immerse yourself in a trifecta of amazing food, music and culture for a breezy 5.5 percent less than last year.
If you hurry up and score an apartment in New Orleans at these prices, you'll be ready for guests by Mardi Gras. Oh, yes, there will be guests — and plenty of them. You've been warned.
Holy, Toled- sorry, couldn't help it.
Located on the shores of Lake Erie, just across the border from Michigan, Toledo is the Glass Capital of the World. When it comes to rent prices, no other city on our top 10 sparkles quite like this Ohio gem.
A one-bedroom apartment in Toledo will set you back just $648 per month, making it the lowest priced city on our list. These sweet prices are also moving in the right direction, down 6.4 percent since last year.
Located between Los Angeles and San Francisco, Bakersfield is a little bit like the Texas of the West. Beyond the heat index, you'll find ample oil rigs and honky-tonks alike.
And while it may be a California city, prices are far lower than the state's more high-profile locales. Sliding 7.6 percent lower than last year, rent prices for a one-bedroom apartment hover right around $851.
A key point of North Carolina's Research Triangle, Durham is known for its tech companies and higher education institutions like Duke University. Did we mention the culture and green spaces?
In many ways, this Southern city seems to have it all. Perhaps it's time to explore life in the South. In this particular corner of the triangle, you'll pay around $1,035 per month for a one-bedroom apartment — a significant $118 less than a year ago. How's that for a rent reduction?
Don't underestimate the capital of this Midwestern fly-over state. It's not worth a look just because it's No. 1 on our list. From friendly, down-to-earth locals to a downtown that's hipper than you think, Des Moines is a sleeper that's ready to be discovered.
The best part? Rent prices have dropped a whopping 16 percent since last year, down to a wallet-friendly $887 per month.
Still looking for a city that calls to you — and bucks the nationwide standard of rising rent prices? We've got even more options for you, including more surprises and maybe another surprise or two on our complete list of 25 cities that you'll want to consider.
|Rank||City||State||2019 1-BR Avg Rent||2018 1-BR Avg Rent||Rent Price Change|
Unfortunately, there are more cities in the top 100 most populated where rent prices are increasing than they are decreasing. Here are the 10 locations where prices have increased the most.
|Rank||City||State||Population (2018)||2019 1-BR Avg Rent||2018 1-BR Avg Rent||Rent Price Change|
|4||North Las Vegas||NV||242,975||$1,046.60||$903.11||13.71%|
We compared one-bedroom rent price changes from August 2019 to August 2018 in the 100 most populated cities in the country based on the U.S. Census Bureau's 2018 population estimate to find the cities where rent prices have decreased by the highest percentage.
The rent information included in this article is based on August 2019 multifamily rental property inventory on Apartment Guide and Rent.com and is used for illustrative purposes only. The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.
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