Rents in the New Haven market were up 5.3 percent in October compared to the same time a year ago, growth that outpaces state and national trends, a new report shows.
New Haven’s median two-bedroom rent was $1,320 in October, costlier than the national average of $1,160, according to a monthly report by online apartment finder Apartment List. The median rent for a one-bedroom in New Haven was $1,080.
Even so, apartments in the Elm City were still more affordable than those in many large metropolitan areas, the report noted.
The median rent for a two-bedroom apartment in San Francisco was 3,070 in October, while New York’s was $2,490 and Seattle’s, $1,690, according to the report.
Atlanta, Dallas and Phoenix had median rents lower than New Haven’s, at $1,170, $1,100 and $1,020, respectively.
Nationwide, median rents in October were up 2.7 percent compared to October 2016, even as they declined in some cities, like New York and Miami, the report said. Rents in Connecticut were up 1.3 percent year-over-year.
Despite being costlier than last year, New Haven’s rents dipped by .3 percent in October over the previous month, marking the fourth straight month of decreases following an increase in June, the report said.
Apartment Finder bases its findings on Census Bureau estimates and its own apartment listings.
Natalie Missakian can be reached at news @newhavenbiz.com
