WEST COAST RENTS ARE HEATING UP: 2022 RENT TRENDS The rental market in the U.S. is experiencing historic rental price fluctuations. To quantify some of these changes, Rentometer has selected and analyzed two- bedroom properties in ten neighborhoods of major metro areas.
SUMMARY In this rent report, we analyze how two- bedroom apartment rents have changed between Q1 2021 and Q1 2022 in ten popular rental markets on the West Coast.
• Geography: The scope of this report is Rentometer’s ten most- analyzed cities on the West Coast. • Property type: Two-bedroom (2-BR) apartments with any bathroom count. • Analysis: Average rents were compared in the subject cities from Q1 2021 to Q1 2022. • Data: New rent data collected between January 1st and March 31st of 2021 and 2022, excluding outlier prices below $500 and above $10,000.
Average two-bedroom apartment rents in these popular rental markets have all experienced price increases between Q1 2021 and Q1 2022. Of the cities analyzed, Oakland, CA saw the least increase at 11%, whereas the Las Vegas market had the greatest increase at 54%. As always, thorough due diligence and assessment of current market conditions is critical to making successful real estate decisions. Whether you are setting your rent or evaluating an investment property opportunity, we recommend identifying sources of reliable market information and contact local professionals familiar with your target rental markets.
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