Across the country, housing prices continue to shoot upwards. One-bedroom apartments have jumped 13.03% in the past year, and the average price for a two bedroom apartment is up 11.6%. Today, a one bedroom rental in America averages $1,509 per month, and the average cost of a two-bedroom apartment is $1795. While the overall trends show rental prices increasing nationwide, housing trends are fairly localized, with each state and metro area telling its own story. Read on to see how your hometown fits into the national trends.

Rent price trends across the USA Infographic Rent Jungle

Costly Along Coasts

As usual, coastal states are the most expensive places to live in America. The most expensive state in the United States in 2017 is New York, where the average cost of a one bedroom apartment is $2993. Although not a state, one bedrooms in DC, the second most expensive place in the country, are nearly $600 less per month, with the average price for a one bedroom clocking in at $2416 per month.

The next two states on the list are California and Massachusetts, with one-bedrooms averaging $2382 and $2357, respectively.

New Jersey, whose proximity to the Big Apple and recent surge in popularity has increased the cost of living, is the fifth most expensive state. One bedrooms in the Garden State average $2058 per month.

Most expensive cities for rent

The first non-coastal state on our list of most expensive states is Illinois. One bedroom apartments in Illinois average $1612 per month. After Illinois, the next non-coastal state on our list is Colorado, where one bedrooms cost $1554 on average.

These trends continue in our city specific data. Coastal cities dominated our list of most expensive metro areas; not a single non-coastal city broke the top 20.

In recent years, San Francisco and NYC have been battling it out for the title of most expensive city in America. In 2017, San Francisco took home the crown with an average rental price of $3577 per month, about $350 more per month than an apartment in NYC, where the average rental price is $3226 per month.

The rest of the top five cities are all associated with either New York City or the SF Bay Area. Jersey City, fast becoming the sixth of New York, took third place, with rents averaging $3048 per month. San Jose, the heart of Silicon Valley took fourth place, with an average rental price of $3041 per month, and Stamford-Norwalk, an affluent Connecticut suburb just outside of NYC, came in fifth, with rental prices averaging $2632 per month.

Head Inland for Cheap Rents

So with rental prices on the coasts hitting a fever pitch, where should you live if you aren't rolling in dough? Head to middle America, where housing is still dirt cheap.

The least expensive state in the country this year was Arkansas, which costs only $761 per month on average for a one bedroom apartment. The second cheapest state is Wyoming, where rent for a one bedroom averages $815 per month. The South and the Mountain States are well represented in the rest of the top 10, with Montana, Kentucky, New Mexico, Mississippi and West Virginia, all making appearances

Where Is the Market Going?

Rents in the most expensive metro areas are continuing to rise, with a few exceptions. New York City has seen rents increase 1.7% in the last year, but New York State as a whole is becoming more expensive even more rapidly, with rental prices increasing 4.8% since last year. Rents in DC are up a mere 0.8%, and California has seen rental prices go up by 5.6% in the past year.

However there are a few expensive areas seeing a sudden drop in housing prices. Hawaii has seen rental prices drop by 18.6%, and Honolulu, the 20th most expensive city in the country is now 20.5% less expensive than in the past year.

Florida is also seeing a noticeable drop in rental prices. In the past year, rents in Florida have decreased 21.9%, with rents in Miami, a consistently pricy city, dropping 9.6%.

The state seeing the most dramatic fluctuation in housing costs is Alaska. In the past year, the average rental price in Alaska has dropped 30.2%, from $1514 to $1056 over the course of 12 months.

The state seeing the most rapid rise in rental prices is Washington. In the past year, rental prices have increased 10.1% in the Evergreen state.

America is a diverse country with a diverse housing market. As the economy in different regions continues to fluctuate, and swaths of people migrate from city to city, rental prices react in real time. Check out our rental listings to learn more!

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