How Much Is It to Rent a Home? Average Rental Prices and Trends
How Much Is It to Rent a Home? Average Rental Prices and Trends
The cost of renting a home varies widely depending on location, property type, and other factors. According to the National Rent Report, the average rent for a one-bedroom apartment in the United States is $1,326, while the average rent for a two-bedroom apartment is $1,487.
| Property Type | Average Rent | Change from Previous Year |
|---|---|---|
| One-bedroom apartment | $1,326 | +4.2% |
| Two-bedroom apartment | $1,487 | +3.8% |
| Three-bedroom apartment | $1,729 | +3.1% |
| Four-bedroom apartment | $2,017 | +2.7% |
| City | Average Rent (One-Bedroom Apartment) |
|---|---|
| New York City, NY | $2,892 |
| San Francisco, CA | $2,737 |
| Boston, MA | $2,580 |
| Los Angeles, CA | $2,427 |
| Chicago, IL | $2,068 |
Success Story:
Renter saves $200 per month by renting a home instead of buying: A recent survey found that renters in the United States save an average of $200 per month compared to homeowners. This is due to the fact that renters do not have to pay for property taxes, homeowners insurance, or maintenance costs.
Renter finds a pet-friendly home with a fenced-in yard: For renters with pets, finding a pet-friendly home can be a challenge. However, there are a number of websites and apps that can help renters find pet-friendly homes.
Renter negotiates a lower rent price with the landlord: Renters can often negotiate a lower rent price with the landlord by offering to sign a longer lease or by agreeing to do some minor repairs.
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