By: Real America News Updated 22 May 2022, 11: 00 am EDT
In several places in the United States the price of apartment rentals has skyrocketed more than 100%, but there are a handful of cities where the trend has been completely the opposite.
In places like Baltimore, Maryland and Cleveland, Ohio, the price of renting one-bedroom apartments had fallen almost one 12 % with respect to the previous year through April, according to a study by Rent.com
Top rents in those areas are falling now that Americans began to return to face-to-face work in the main metropolitan areas and that is reducing the demand for housing in the smaller cities, he told CBS, Brian Carberry, Senior Managing Editor, Rent.com.
Rentals began to fall in the gr andes cities during the first months of the covid-pandemic 10, when some people fled to smaller metropolitan areas.
Now that the most restrictions have been lifted, Americans are flocking back to the biggest cities like Miami or Atlanta and looking for apartment space, driving prices up.
Median monthly rent in Miami increased to $2,988 in March, according to Realtor.com, putting it on par with California’s notoriously expensive Bay Area and above the $2 average,750 in New York City.
This is the list of cities where the cost of renting one-bedroom apartments has decreased:
1.- Baltimore, Maryland
Average rent: $1,629 dollars Decrease from last year: 11.8%
2.- Cleveland, Ohio
Average rent: $1,232 dollars
Decrease from last year: 11.8%
3.- Toledo, Ohio
Average rent: $679 Dollars
Decrease from last year: 10.9%
4.- Kansas City, Missouri
Average Rent: $1,270 dollars
Decrease from last year: 9.9%
5.- Michigan, Wisconsin
Average rent: $1,158 dollars
Decrease from last year: 9.5%
6.- Indianapolis, Indiana
Average Rent: $1,081 dollars
Decrease from last year: 9.1%
7.- Las Vegas, Nevada
Average rent: $1,512 dollarsDecrease from the year past: 8.6%
8.- Virginia Beach, Virginia
Average Rent: $1,513 Dollars
Decrease from last year: 5.6%
9.- Norfolk, Virginia
Average rent: $1,270 Dollars
Decrease from last year: 4.1%
10.- Lubbock, Texas
Average rent: $670 Dollars
Decrease from last year: 2.7%
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