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The average rent in the United States for a 2-bedroom unit in July 2022 was $2,048 – a 26.5% year-over-year increase – according to a report from Rent. One-bedrooms also saw a significant increase – 25.3% YoY – and averaged just over $1,700 per month in July.
Austin, Texas saw the largest one-bedroom cost increase, Rent found, with prices jumping 108.2% from the previous year. Meanwhile, McKinney, Texas saw the largest decrease in rent in the nation, with prices dropping 50.1% YoY. When it comes to two-bedroom units, Jersey City, New Jersey saw the largest YoY rent increase at 57.7%, and Charlotte, North Carolina had the largest drop in prices, with a 24.5% decrease.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
