Apartment Rents Continue to Rise Despite Pandemic
While a small handful of landlords may be waiving rent in April, the majority expect to continue to be paid — and according to a new report, they’re expecting to be paid even more than before. ApartmentList.com published its April Rent Report late last week and the numbers continue to climb.
Month-over-month, the median rent for apartments in Columbus inched up 0.1%, for an accumulate total of 1.4% year-over-year. That annual increase was less than the national average, which has gone up by 1.9% since April 2019.
According to ApartmentList, the median one bedroom apartment in Columbus now clocks in at $760 per month, while a two-bedroom lands at $970 per month.
“Columbus is still more affordable than most other large cities across the country,” states the un-authored report. “For example, San Francisco has a median two bedroom rent of $3,102, which is more than three times the price in Columbus.”
Median one-bedroom rents in April 2020
- Austin – $1,190
- Portland, OR – $1,120
- Denver – $1,070
- Charlotte – $990
- Nashville – $950
- Minneapolis – $920
- Columbus – $760
- Pittsburgh – $740
- Indianapolis – $710
- Cincinnati – $650
Like many of these national aggregate services, the results are largely based on data collected from larger apartment complexes, and do not include polling data from smaller apartment buildings or single family homes available for rent. A note in the report expands upon the methodology a bit:
“Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.”
To view the full report, visit apartmentlist.com/oh/columbus.