NEW ORLEANS — According to a new report from RENTCafé, rent prices in New Orleans rose 1.7 percent in June.
Here are some key takeaways from the report:
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- The national average rent reached the all-time high of $1,405 in June 2018, having increased by 2.9 percent year over year, and by 0.9 percent ($12) month over month, according to Yardi Matrix data.
- Rents increased in 88 percent of the nation’s biggest 250 cities in June, remained unchanged in 10 percent of cities, and dropped in 2 percent of them compared to June 2017.
- The top 20 fastest increases in the country were registered in small cities, where population migration and the strengthening economy are accelerating rent growth.
- Manhattan has had the largest year-over-year rent increase of the past 12 months, June having brought a 1.5% increase after a year-long period of decreasing or stagnating prices.
See the complete report here.
– by Alexa Renée Harrison, associate news editor
