As smaller and cheaper cities see boosts in rental prices, San Francisco, Seattle, and New York are amongst the cities with the biggest drops in rental prices this year.
According to a new study, the Bay Area represented the three biggest declines in one-bedroom rental prices. The fourth: Seattle.
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While San Francisco made the biggest drop, with the median price reaching $2,600 per month in April down 24.6% from a year before, Seattle landed the fourth spot with the median rent reaching $1,500 down 16.20% over the same period.
Following Seattle came Boston and New York, then Honolulu, Wichita, and Minneapolis.
At the moment, smaller cities are seeing rental booms, with Durham, North Carolina seeing the biggest increase with the median price of a one-bedroom hitting $1,260 in April, up 29.9% from a year before.
Cleveland, Ohio comes in second with a median price of $1,190, up 26.6% over the same period, while Chattanooga, Tennessee came in third with a one-bedroom reaching a median price of $1,090, up 21.2% from last year.