New Haven rents have remained mostly steady in spite of the coronavirus pandemic, a new report shows.
A July 2020 monthly report from ApartmentList.com shows New Haven rents are down by 0.1 percent year-over-year.
The city’s year-over-year rent growth statistics lag both the state average, which is up 0.4 percent, and the national average, which is up 0.2 percent. Stamford and Hartford saw rents fall year-over-year, according to the report.
From 2014 to 2019, rent growth from March to June in New Haven averaged 0.3 percent. Median rents in the city now stand at $1,092 for a one-bedroom apartment and $1,333 for a two-bedroom, the report shows.
Several other large cities in Connecticut are seeing growth. New Britain, Danbury and Norwalk all experienced year-over-year growth above the state average, or 1.8 percent, 1.2 percent and 0.8 percent respectively.
While New Haven’s median two-bedroom rent of $1,333 is above the national average of $1,192, it is still more affordable than cities like San Francisco, where the same size apartment would cost $3,035 a month, according to the report.
Read the full report HERE.
Some landlords have had difficulties getting tenants to pay their rents due to the coronavirus pandemic and resulting job losses.
In June, landlords from New Haven and around the state sued Gov. Ned Lamont over his April executive order aimed at preventing residential evictions during the COVID-19 crisis.
The plaintiffs in the action, filed in U.S. District Court, own or manage residential rental properties in New Haven, Waterbury, Hartford, Meriden and Bristol.
