NASHVILLE, Tenn. (WTVF) — If you had to search for an apartment or renew a lease in the last couple of years, you probably have noticed how expensive rent has become. New data now shows the median price for a one-bedroom is now more than $1,500 across the country.
In the September National Rent Report from Zumper, the national median rent price for a one-bedroom apartment reached a new high for the ninth time in as many months.
Data from Rent.com states the average across the country is actually more than $1,700. In Tennessee, the average rent is $1,400, about $400 more than it was in 2021. In Nashville specifically, though, the average price for a one-bedroom is more than $2,000.
There has been an 11% increase in rent compared to last year across the United States. However, things might be getting better soon. Rent prices actually dropped this month in Nashville and other cities like Tampa, Denver, and Cincinnati. Financial experts said this is because many landlords were trying to make up for the loss of rent growth during the pandemic, but now that the pandemic has slowed, landlords may ease up.
New York City is the most expensive city to live in the United States with the average cost for a one-bedroom apartment being between $4,000 and $5,000 a month.
