Renters across the U.S. often notice rising rates, but some major metro cities are not experiencing the same trends. Recent research from a rental data hub shows that in some big cities in America, rent prices are actually getting lower. The report noted:
“Whether you live in a rural area or a big city, you've probably noticed that, in general, housing prices are increasing everywhere. What you once paid for a two-bedroom apartment is now what it costs to rent a one-bedroom apartment in some cities. In fact, rent for a one-bedroom apartment has increased 22 percent nationally and rent for a two-bedroom apartment has spiked by 18 percent. These percentages vary state by state and city by city, but the overall trend is that rent is increasing.”
Despite most cities showing rising rent rates, researchers managed to find others that are lowering. They “combed through the data and spotted some cities with rent prices decreasing,” sharing a list — in no particular order — of 10 big cities experiencing that trend. Kansas City is the only city in Missouri to make the list. The city’s one-bedroom rent price year over year change is -11.76%, and a 2-bedroom year over year change is -8.74%. Here’s what the report says about Kansas City:
“Not to be confused with its sister city Kansas City, KS (KCK); Kansas City, MO (KCMO) is one of the big cities in the U.S. where rent is decreasing. In KCMO, rent has gone down in the last year, making it a desirable city for people to live in. Rent costs roughly $1,240 and $1,521 for a one- or two-bedroom apartment in this city.
“There are plenty of job opportunities in this city, too. Whether you're looking for a job at a start-up, in tech or finance, you'll likely find one waiting for you.
“KCMO is a cultural hub with several museums, great colleges, live jazz and professional sports teams. This city has it all. Plus, you can check out KCK and venture into a new state quite easily.”
See the full report — including the rest of the list, methodology and more — here.