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.