To afford living in a big city like San Francisco, California, you’d must make double what most Individuals earn, in accordance with a Might Moody’s Analytics evaluation.
Regardless of that, the San Francisco space is the one main metro the place rent for one-bedroom apartments has really decreased since 2019, in accordance with knowledge from House Checklist.
Lease within the space went from $2,435 in April 2019 to $2,281 in April 2024.
However that is not the case for different metro areas throughout the US that noticed lease for one-bedroom residences improve steadily since 2020.
CNBC Make It analyzed lease estimate knowledge from Apartment List for April 2019 to April 2024, filtering metropolitan statistical areas, as outlined by the Census Bureau, by these with a minimum of 500,000 residents to seek out the metros with the most important lease will increase for a one-bedroom residences.
Eight of the highest 10 metro areas are within the Solar Belt area. Rents in every of those metros have elevated over 37% since 2019.
The U.S. metro space the place lease has elevated probably the most since 2019: Knoxville, TN
The Knoxville, Tennessee metro space noticed lease for one-bedroom residences improve probably the most from 2019 to 2024.
Lease within the space went from $582 to $907, or a 55.8% improve.
Knoxville is the U.S. metro space the place lease for 1-bedroom residences elevated probably the most since 2019.
Picture By Mike Kline (Notkalvin) | Second | Getty Pictures
Knoxville’s price of dwelling is 15% decrease than the nationwide common, whereas housing bills are 29% larger.
The town is house to the College of Tennessee and is near different main cities, together with Nashville, Chattanooga, and Atlanta.
10 U.S. metro areas the place lease for a 1-bedroom residence has elevated probably the most since 2019
- Knoxville, TN
- Albuquerque, NM
- Greensboro-Excessive Level, NC
- Dayton-Kettering, OH
- Tucson, AZ
- El Paso, TX
- North Port-Sarasota-Bradenton, FL
- Tampa-St. Petersburg-Clearwater, FL
- Miami-Fort Lauderdale-Pompano Seashore, FL
- Windfall-Warwick, RI-MA
Albuquerque, New Mexico ranked because the No. 2 metro with the most important lease will increase for 1-bedroom residences since earlier than the covid-19 pandemic.
Lease for 1-bedroom residences elevated 49.5% from $646 to $966 from 2019 to 2024. The metro space was the No. 2 within the west, with the most important lease improve for one-bedroom residences after Honolulu, Hawaii.
Albuquerque, New Mexico.
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Albuquerque is the most important metropolis in New Mexico and the state’s financial capital, in accordance with Britannica. It’s about 60 miles from the state’s capital, Sante Fe.
Value of dwelling within the metropolis is 7% decrease than the nationwide common, in accordance with PayScale. The town’s housing bills and utility costs each fall beneath the nationwide common as properly.
Greensboro-Excessive Level, North Carolina
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Greensboro-Excessive Level in North Carolina is the third metro on the listing. The world noticed a 44.3% improve in lease for one-bedroom residences from 2019 to 2024, going from $657 to $948.
The Greensboro-Excessive Level metro space is a part of The Piedmont Triad area in north-central North Carolina.
It’s the state’s manufacturing base, in accordance with The New York Times. Excessive Level is also called the world’s house furnishings capital, whereas Greensboro and Winston-Salem, the opposite cities within the Triad, focus on textiles and tobacco.
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