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In January, D.C.’s rents grew 2.4 percent year-over-year, average $2,087

Overall, rents across the nation are rising

Photo via Shutterstock/Sean Pavone

Rents continue to grow in the nation’s capital. According to RENTCafé with data from Yardi Matrix, the average rent in Washington, D.C., during the month of January 2018 was $2,087 with no month-over-month change, but a 2.4 percent year-over-year increase. For the nation as a whole, the average monthly rent was $1,361, no change month-over-month, but 2.8 percent higher from this time last year.

For 89 percent of the nation’s biggest cities, rents grew year-over-year, while only 9 percent of cities remained unchanged and 2 percent experienced rent drops. Two-bedroom units have raised the most in cost over the past year with a 3.5 percent increase, leading to a monthly average of $1,400. Meanwhile, one-bedrooms have increased by 3.4 percent, totaling $1,225 per month on average.

RENTCafé reports that the U.S. city with the highest rent at the moment is Manhattan, New York ($4,079), just above San Francisco, California ($3,448). The lowest rents were found in Wichita, Kansas ($632), and Tulsa, Oklahoma ($672).

To see how the RENTCafé’s data breaks down city by city, head to the full report here.

Image via RENTCafé
Image via RENTCafé
Image via RENTCafé

Same Trend, Different Year: January Brings Further Rent Increases, Fueled by Demand [RENTCafé]