Colorado Springs ranks 63rd for priciest rent compared to other U.S. cities, according to a new report.
San Francisco and San Jose, Calif. and New York City were ranked as the cities with the most expensive rent while Detroit, Michigan; Wichita, Kansas; and Akron, Ohio had the cheapest.
The report, “National Rent Report: March 2019,” released last week by online rental platform Zumper, compared 100 cities nationwide using data from more than one million active listings in addition to the National Rent Index for one- and two-bedroom units.
Other Colorado cities on the report included Denver at 17th with a one-bedroom unit at $1,510 and a two-bedroom unit at $1,940, and Aurora ranked 31st with a one-bedroom unit at $1,190 and a two-bedroom unit at $1,440.
Other highlights from the report:
- The price of one-bedroom units in Colorado Springs fell 5.3 percent in March — the largest monthly decline for one-bedroom units in the nation — to $900, while two-bedroom units decreased 0.9 percent to $1,100.
- The national one- and two-bedroom rents both fell 0.4 percent with medians of $1,208 and $1,437.
“While Syracuse had the largest monthly growth rate, up 5.3 percent to $990, Colorado Springs saw the biggest rent dip, falling 5.3 percent to $900,” the report stated. “Besides a few cities, there weren’t many that experienced monthly growth rates of more than 3 percent.
“On a year over year basis, the most amount of cities with double digit growth rates were focused toward the mid to lower tiered markets.”
See the full report at zumper.com/blog/rental-price-data.