For September 2017, Yardi Matrix released their data on rental price trends and as UrbanLand concludes, smaller to mid-size towns may no longer be a cost sanctuary from pricey urban areas.
The data for last month reveals the list of fastest-growing rents is led by small and medium-sized towns like Odessa and Midland, TX. Many towns report double-digit growth over the past 12 months. The west coast (California, Colorado, Nevada, Washington) is home to the bulk of these cities with the fastest growing rents on this list.
One- and two-bedroom apartment units are seeing rents grow much faster than their larger and smaller counterparts. In fact, two-bedroom-unit rents have jumped 2.8 percent in the last year, while studio apartments have risen just 1.9 percent.
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