Once again, the national news about rental rates is better than the local news. According to the third-quarter rent report from Abodo, the nationwide median decreased between July and August. That means that so far in 2017, rents — on the whole — are down.
But while the median was down slightly on one-bedrooms across the country, they were up nearly 5 percent in Philadelphia. As of today, the median one-bedroom rate in the city is $1,367. A two-bedroom is likely to set you back $1,568 a month (a more meager jump of 0.2 percent). The local rates have landed the city on the top 10 list of biggest increases in the country. It is interesting to note that even cities where the rent is highest in the country — San Francisco ($3,210 monthly) and New York ($2,907 monthly) experienced drops last month.
Meanwhile, the biggest increases nationwide came in warmer locations this month: New Orleans, Corpus Christi in Texas, Santa Ana in Caifornia and Honolulu. Decreases tended to come in less balmy locations: St. Paul, Minnesota, was number two and Buffalo, New York, was number three. Take a look at the whole report to see where the most affordable apartments are.