U.S. cities where rents are dropping — and where they're going up: report

U.S. cities where rents are dropping — and where they're going up: report (via CNBCMakeIt)

For example, the average rent a one-bedroom apartment in notoriously expensive cities like San Francisco, Manhattan and Seattle is decreasing, while cities like Kansas City, Missouri, Gilbert, Arizona and Las Vegas are seeing spikes in average one-bedroom rent prices.

"We've been seeing this trend playing out for a few months now, but the decline in rent prices in notoriously expensive cities stands out here," Brian Carberry, senior managing editor at Apartment Guide tellsWhile the average rent on a one-bedroom is down 45% in San Francisco and 27% in Manhattan, Carberry believes at some point the prices will level off as cities begin to reopen and people look to move back for work.

"For renters, this is a prime opportunity to get into an expensive area for way less than it would have cost before the pandemic," hey says. To conduct the report, Apartment Guide compared rent price data from March 2020 to March 2021 using apartment listing from both ApartmentGuide.com and Rent.com. Here are the U.S. cities where average rent for a one-bedroom is increasing and decreasing the most, according to the Apartment Guide

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