Hartford’s rental price growth rate dropped by 3.4 percent in March compared with the same month a year ago, according to the April 2017 National Apartment List Rent Report.
Rents were flat or declining for much of 2016, but the national rent index has now increased in each of the past three months.
In Hartford, the median price for a one-bedroom apartment was $830 in March; and $1,170 for a two-bedroom apartment. Compared with the previous month of February, rent also was down 1 percent. But in Hartford County, the apartment prices were $1,090 for a one-bedroom and $1,300 for a two-bedroom, up 1.3 percent year over year (but flat month to month).
Nationally, after a sharp 1 percent spike between January and February, the U.S. rent index is continuing to rise, but at a slower rate with month-over-month growth coming in at a four-tenths of a percent increase for March.
Some of the cities with the fastest declining rents are also the nation’s most expensive. For instance, San Francisco has a median two-bedroom rent of $4,560, and has seen rents decline 1 percent over the past year.
For more information, the report can be found here.
