(WJW) – As we hit the first of the month, and it’s time to pay the rent, there is good news and bad news to report.
Bloomberg reports the median national one-bedroom rent stands at $1,486/month. That’s up almost 12% from last August.
Most cities are seeing double-digit increases.
According to the Zumper National Rent Report, just two cities on their top 100 list saw a decline in one-bedroom rent: Des Moines, IA is down 12% from last year, and Cleveland is down 5.4%.
According to the list, a one-bedroom unit in Cleveland runs about $1,220/month and a two-bedroom unit costs about$1,270.
The good news is that we have the cheapest place on the list to live right here in Northeast Ohio.
Akron comes in at No. 100 on the list with a one-bedroom unit running at about $650/month and a two-bedroom unit coming in at about $830/month.
Rent in New York City will still set you back the most financially. A one-bedroom unit in Manhattan runs about $4,212/month. That is 27% more than last year. And if you need more space, a two-bedroom unit will cost about $5,283/month.
To see the full list, click here.