Apartment Guide has released its annual Rent Report for January 2021. It answers questions such as, “Are rents dropping near me?” and “Where is the most affordable place to live?” We at Trendizt perused it to bring you the following highlights:
People are moving in together to save money
The report shows that rent increased more in two- and three-bedroom apartments than smaller units. This likely mean that more families are consolidating or that more people are choosing roomates as a money-saving option since the Covid lockdowns have bascially wrecked our economy.
Single people can find bargains
Studios are less expensive, and one-bedrooms prices only rose modestly last year. This is good news if you are single and dont need a lot of space for your stuff!
Renters are leaving big cities
Let’s face it — living in the biggest cities are kind of overrated. Sky high living expenses, rampant homelessness, rising crime, inept local governments, annoying trraffic jams, and poor infrastructure greatly reduce the quality of life in places like New York and Los Angeles.
As shown by the data, smaller cities with less than 500,000 people are seeing population growth (with rising rents due to demand) while big cities are losing people (and rents are dropping). Suprisingly, the South has experienced the greatest increase in rents and people (think Californians moving to Texas).
Affordable places around the country
Seeking a change? Here, in no particular order, are ten cities which have relatively affordable rents compared with other markets:
- Tulsa, OK
- Raleigh, NC
- Omaha, NE
- Fresno, CA
- Mesa, AZ
- Louisville, KY
- Memphis, TN
- Oklahoma City, OK
- Jacksonville, FL
- San Antonio, TX
Got your bags packed yet?