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Some of the hottest rental markets in the country may have finally hit their peak. For example, markets like San Francisco and Manhattan are posting some of the highest year-over-year drops in average rents by 4.3 percent and 2.2 percent, respectively.<\/p>\n
\nRead more: Renters Are Starting to Feel Richer, But… <\/span><\/p>\n<\/blockquote>\n
Nationally, rents are remaining stable. The average apartment rent is $1,312, according to data from Yardi Matrix. Rents across the country are rising, but only slightly now\u2014by just $6 from February to March. It\u2019s the slowest annual rent growth rate seen in three consecutive years and just half the year-over-year growth seen a year ago, where rents increased 5.7 percent over the year, Rent Caf\u00e9 reports. \u00a0<\/p>\n
But some markets are seeing slight declines in rents. The following 10 markets have seen the largest year-over-year drops in rents, according to Rent Caf\u00e9:<\/p>\n
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- San Francisco: \u20134.3% (year-over-year change); $3,330 (average rent)<\/li>\n
- Odessa, Texas: \u20134.2%; $902<\/li>\n
- Broken Arrow, Okla.: \u20133.9%; $781<\/li>\n
- Corpus Christi, Texas: \u20132.9%; $945<\/li>\n
- Oklahoma City, Okla.: \u20132.6%; $716<\/li>\n
- Manhattan (New York City): \u20132.2%; $4,094<\/li>\n
- Fremont, Calif.: \u20132.2%; $2,270<\/li>\n
- Cambridge, Mass.: \u20131.8%; $2,949<\/li>\n
- Midland, Texas: \u20131.8%; $1,058<\/li>\n
- Tulsa, Okla.: \u20131.8%; $669<\/li>\n<\/ol>\n
Source: \u201cApartment Rents Still on a Roll in Most Cities Though Some Hot Markets See Important Declines in March,\u201d Rent Caf\u00e9 Blog (April 4, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n
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