house Rent Prices for Two and Three-Bedroom Homes Rising the Fastest.

Monthly rent for two and three-bedroom homes are appreciating 2.8 percent annually, which is faster than one-bedroom homes and the nation as a whole.

  • Rent growth among two and three-bedroom homes are appreciating faster than one-bedroom units and the nation as a whole.
  • Rent prices rose 2.8 percent over the past year among both two-bedroom and three-bedroom homes. Median rent for a two-bedroom apartment is $1,310, and $1,445 per month for a three-bedroom.
  • Renters looking for a one-bedroom can expect to pay $1,275 per month, up 2.2 percent over the past year.

The average rent in the U.S. is $1,480, up 2.5 percent from a year ago.

As rent continues to rise, it’s becoming more difficult for renters to keep up with costs. With rent among two and three-bedroom rentals rising the fastest, renters who need more space face an even tighter affordability crunch.

In Baltimore, Washington, D.C., and Austin – all markets that have seen substantial new apartment construction in recent years – median rent for a two or three-bedroom home is appreciating about twice as fast as a one-bedroom home. Median rent for two and three-bedroom homes in Chicago and San Antonio are also appreciating quickly, more than 80 percent faster than one-bedroom rents.

Though two and three-bedroom rents are appreciating quickly, the financial incentives for living with a roommate remain strong. Sharing a two-bedroom rental with one person is still about half the cost of renting a solo one-bedroom unit.

Cost of Rent in Major US Cities

1-Bedroom

2-Bedroom

3-Bedroom

All

Metro
Area

Median
Rent

YoY
Change

Median
Rent

YoY
Change

Median
Rent

YoY
Change

Median
Rent

YoY
Change

United States

$1,275

2.2%

$1,310

2.8%

$1,445

2.8%

$1,480

2.5%

New York, NY

$2,020

0.9%

$2,100

1.0%

$2,505

1.3%

$2,350

1.1%

Los Angeles, CA

$2,090

4.7%

$2,425

4.3%

$2,760

3.9%

$2,860

4.3%

Chicago, IL

$1,535

1.2%

$1,535

2.2%

$1,685

2.2%

$1,765

1.9%

Dallas, TX

$1,040

2.5%

$1,160

3.1%

$1,550

3.6%

$1,650

3.3%

Philadelphia, PA

$1,365

2.0%

$1,505

2.0%

$1,515

2.5%

$1,655

2.1%

Houston, TX

$975

2.6%

$1,120

1.9%

$1,450

2.5%

$1,575

2.2%

Washington, DC

$1,790

0.6%

$1,910

1.4%

$2,130

2.0%

$2,155

1.3%

Miami, FL

$1,410

1.5%

$1,665

2.2%

$2,110

2.7%

$2,000

2.2%

Atlanta, GA

$1,330

4.7%

$1,225

5.8%

$1,325

5.5%

$1,435

5.1%

Boston, MA

$1,895

2.0%

$2,060

3.5%

$2,470

4.0%

$2,390

3.3%

San Francisco, CA

$2,445

2.2%

$3,005

3.7%

$3,340

4.0%

$3,425

3.5%

Detroit, MI

$1,090

4.5%

$1,260

3.1%

$1,435

3.8%

$1,275

3.6%

Riverside, CA

$1,245

6.9%

$1,560

6.7%

$1,840

5.5%

$1,915

5.8%

Phoenix, AZ

$1,130

6.4%

$1,350

5.8%

$1,410

5.7%

$1,450

5.4%

Seattle, WA

$1,760

4.1%

$1,955

5.5%

$2,135

5.7%

$2,210

5.0%

Minneapolis, MN

$1,255

3.6%

$1,505

3.8%

$1,650

3.9%

$1,650

3.9%

San Diego, CA

$1,805

5.7%

$2,225

5.3%

$2,590

4.7%

$2,650

4.9%

St. Louis, MO

$880

2.1%

$975

2.0%

$1,280

1.7%

$1,190

2.0%

Tampa, FL

$1,095

5.5%

$1,260

5.1%

$1,435

3.3%

$1,445

4.5%

Baltimore, MD

$1,380

0.4%

$1,500

1.3%

$1,780

2.5%

$1,745

0.8%

Denver, CO

$1,355

3.2%

$1,825

4.4%

$2,080

3.9%

$2,085

3.9%

Pittsburgh, PA

$905

1.9%

$975

1.7%

$1,140

1.7%

$1,090

1.7%

Portland, OR

$1,550

2.1%

$1,750

3.1%

$1,895

3.7%

$1,920

3.0%

Charlotte, NC

$1,110

3.6%

$1,015

4.5%

$1,315

4.2%

$1,360

3.9%

Sacramento, CA

$1,400

8.7%

$1,695

8.2%

$1,785

6.2%

$1,925

7.4%

San Antonio, TX

$865

1.3%

$975

2.3%

$1,270

2.7%

$1,370

2.3%

Orlando, FL

$950

5.9%

$1,200

6.0%

$1,460

4.8%

$1,485

5.3%

Cincinnati, OH

$885

3.2%

$985

3.5%

$1,200

2.9%

$1,210

3.0%

Cleveland, OH

$925

2.8%

$1,045

2.5%

$1,165

2.0%

$1,190

2.0%

Kansas City, MO

$890

3.9%

$905

3.6%

$1,175

3.2%

$1,245

3.3%

Las Vegas, NV

$960

6.9%

$1,150

6.6%

$1,330

5.3%

$1,375

5.7%

Columbus, OH

$975

4.0%

$1,105

3.9%

$1,350

3.6%

$1,400

3.4%

Indianapolis, IN

$875

3.0%

$895

3.9%

$1,210

3.2%

$1,230

3.4%

San Jose, CA

$2,565

3.0%

$3,130

2.7%

$3,530

2.9%

$3,635

3.1%

Austin, TX

$1,350

0.8%

$1,655

1.6%

$1,725

1.8%

$1,725

1.2%

 

Source: https://hotpads.com

Geraldine Jensen

Geraldine Jensen

Geraldine Jensen is a child support enforcement expert. She is the author of How to Collect Child Support and the Status of Child Support Enforcement in the U.S.Geraldine is the founder of ACES, Association for Children for Enforcement of Support, Inc. ACES was founded in Toledo, Oho and grew to have 400 chapters in 48 states with over 50,000 members. ACES successfully advocated for children's legal and moral right to child support payments. At ACES,she advocates for, coaches and empowers single parents.
Geraldine Jensen

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