Nationally, rents have been rising at a steady clip for some time now. A whopping 93% of the country’s largest cities saw an annual jump in rents this January, with rents rising the fastest in the south.
Overall rents in cities like Las Vegas, Phoenix and Los Angeles have increased 6% or more since January 2018 alone. In L.A., that amounts to nearly $140 more in rent costs over the year.
Fortunately, not all rental properties are experiencing the same rapid increase. In fact, if you’re willing to rent a studio apartment, you might even see rents decrease in the coming months.
Apartment Guide recently rounded up the cities seeing the biggest increases and decreases in studio rents. Here’s where studio renters can start to celebrate:
Corpus Christi, Texas, has seen the biggest annual decrease in studio rents in the country. Photo Credit: GettyGetty
Corpus Christi, Texas
Current studio rent: $825
Decrease since January 2018: -15.9%
Henderson, Nevada had the second-largest dip in studio rents this year. Photo Credit: GettyGetty
Henderson, Nevada
Current studio rent: $1,034
Decrease since January 2018: -10.6%
Honolulu, Hawaii, experienced the No. 3 decrease in studio rents since January 2018. Photo Credit: GettyGetty
Honolulu, Hawaii
Current studio rent: $1,850
Decrease since January 2018: -8%
Aurora, just outside of Denver (pictured here) has one of the biggest decreases in studio rents in the nation. Photo Credit: GettyGetty
Aurora, Colorado
Current studio rent: $1,069
Decrease since January 2018: -5.8%
Baton Rouge, Louisiana, has seen the fifth-largest decrease in studio rents. Photo Credit: GettyGetty
Baton Rouge, Louisiana
Current studio rent: $761 (the lowest on the list)
Decrease since January 2018: -5.5%
Detroit saw the No. 6 largest decrease in studio rents this year. Photo Credit: GettyGetty
Detroit, Michigan
Current studio rent: $819
Decrease since January 2018: -5%
Madison, Wisconsin, claims the seventh-biggest dip in studio rent costs. Photo Credit: GettyGetty
Madison, Wisconsin
Current studio rent: $990
Decrease since January 2018: -4.9%
New Orleans comes claims the No. 8 biggest annual decrease in studio rents. Photo Credit: GettyGetty
New Orleans
Current studio rent: $1,102
Decrease since January 2018: -3.8%
St. Louis, Missouri, has seen the No. 9 biggest decrease in studio rents this year. Photo Credit: GettyGetty
St. Louis, Missouri
Current studio rent: $927
Decrease since January 2018: –2.9%
Portland has seen the tenth-largest decrease in studio rental costs since 2018. Photo Credit: GettyGetty
Portland, Oregon
Current studio rent: $1,311
Decrease since January 2018: -2.9%
On the other end of the spectrum were serious rent-gainers like Arlington, Texas, where studio rents have jumped 40.6% over the year, and St. Petersburg, Florida, which has seen rents rise 37.2% since 2018.