{"id":1004179565,"date":"2017-06-07T08:17:16","date_gmt":"2017-06-07T16:17:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179565"},"modified":"2022-12-08T01:28:43","modified_gmt":"2022-12-08T09:28:43","slug":"economy-watch-rents-volatile-in-many-markets-in-may","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-rents-volatile-in-many-markets-in-may\/","title":{"rendered":"Economy Watch: Rents Volatile in Many Markets in May"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004179568\" style=\"width: 610px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179568\" data-attachment-id=\"1004179568\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-rents-volatile-in-many-markets-in-may\/june2017_rentreport_map\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg\" data-orig-size=\"1206,907\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"June2017_RentReport_Map\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Source: ABODO June 2017 National Apartment Report&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg?w=1024\" class=\"wp-image-1004179568\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg\" alt=\"Source: ABODO June 2017 National Apartment Report \" width=\"600\" height=\"451\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg 1206w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg?resize=300,226 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg?resize=768,578 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg?resize=1024,770 1024w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><p id=\"caption-attachment-1004179568\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.abodo.com\/blog\/june-2017-national-apartment-report\/\">ABODO June 2017 National Apartment Report<\/a><\/p><\/div>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-more-than-one-third-of-millennials-live-with-parents-2\/\">Apartment rents<\/a> are still rising nationwide, but there is a lot of volatility among the country&#8217;s many markets, according to the latest report on rents by ABODO. Although the nationwide median one-bedroom rent (based on Abodo.com listing data) has nearly returned to its January 2017 mark of $1,016\u2014after a March low of $1,003\u2014in certain cities, rent prices have moved a good deal more.<\/p>\n<p>Philadelphia led the pack going into June, with an 11.7 percent increase since the previous month\u2014one of the largest rent hikes this year, second only to an 11.8 percent increase in New Orleans. The spike in Philly rents might be an anomaly, since for much of the year the city has seen only decreases in rents. Even after the 11.7 percent hike, Philadelphia\u2019s rent is still down from its January high of $1,316, to $1,202.<\/p>\n<p>Other spikes in rent for the month were in Reno (8.8 percent); Greensboro, N.C. (5 percent); Rochester, N.Y. (7 percent); Riverside, Calif. (6 percent); Toledo, Ohio (5.3 percent); Dallas (5.1 percent); and Richmond, Va. (5 percent).<\/p>\n<p>All of the rental decreases going into June 2017 were on the smaller side, led by Buffalo, N.Y., where median rents fell 4 percent, from $1,054 to $1,012. Virginia Beach, Va., is continuing its streak of small monthly decreases, down 3.5 percent this month. Three California cities\u2014Fresno (down 3.5 percent), San Jose (down 3.3 percent), and San Francisco (down 2 percent)\u2014also faced rent decreases going into June, bringing San Francisco\u2019s median one-bedroom rent down to $3,284. Even so, San Francisco still has\u00a0the highest apartment rents in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side. <\/p>\n","protected":false},"author":1023,"featured_media":1004179568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[34551],"class_list":["post-1004179565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","tag-abodo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Rents Volatile in Many Markets in May - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-rents-volatile-in-many-markets-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Rents Volatile in Many Markets in May\" \/>\n<meta property=\"og:description\" content=\"While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-rents-volatile-in-many-markets-in-may\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-07T16:17:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T09:28:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/June2017_RentReport_Map.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1206\" \/>\n\t<meta property=\"og:image:height\" content=\"907\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"Economy Watch: Rents Volatile in Many Markets in May\",\"datePublished\":\"2017-06-07T16:17:16+00:00\",\"dateModified\":\"2022-12-08T09:28:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/\"},\"wordCount\":278,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/06\\\/June2017_RentReport_Map.jpg\",\"keywords\":[\"ABODO\"],\"articleSection\":[\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-rents-volatile-in-many-markets-in-may\\\/\",\"name\":\"Economy Watch: Rents Volatile in Many Markets in May - 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