Nationwide, rents have been on the increase since August 2017, but February brings slight relief — at least to renters of one-bedroom apartments. The national median rent for one-bedrooms dropped from $1,046 to $1,044, marking the first decr
ease in six months.
Although national one-bedroom rents decreased just .2%, some cities felt a much larger decline. Syracuse, NY, had the largest rent drop in the country, with rents sliding nearly 11% through January. Santa Ana, CA, also saw a significant decline of 9.1%, with one-bedroom rents there dropping from $1,841 to $1,673. One-bedroom apartments in Minneapolis, MN, and St. Louis, MO, slid nearly 4%, followed by Cincinnati, OH, one-bedrooms, which slid from $824 per month to an even $800, for a 2.9% drop.
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