Cities With the Most Extreme Studio Rental Price Increases and Decreases

Americans are always chasing the cheaper option, the best value. And renting an affordable studio apartment is a great way to lower your housing costs. But in some pockets of the U.S., rent has been on the rise, while in others, it's been taking a dip.

We compared year-to-year studio apartment rental rates in the 100 biggest cities in the nation during 2018 to uncover the top 10 cities in America where rent is getting cheaper and the top 10 where it's going up.

• Cities where studio rent is increasing
• Cities where studio rent is decreasing
• Table of 100 largest cities
• Methodology

The 10 American cities where studio rent is increasing the most

These are cities where rent for studio apartments increased by the largest percentage in 2018. As a comparison, the average studio rent increased by 4.8 percent nationwide last year.

10. Sacramento, CA

In a state where L.A., San Fran and San Diego vie for all the attention, it's the beautiful capital city of Sacramento that's the fastest growing city in California. Both a hub for the financial industry and an education center, Sacramento has been attracting a young professional population leading to its designation as most "hipster city" in California.

This increase in population and stature has also increased its rental rates closer to the rest of the state, with an average studio apartment renting for $1,338, an 18.3 percent rise year to year.

9. Newark, NJ

Unfortunately, Cory Booker isn't the Mayor of Newark anymore, where he famously opened his home to storm victims and rescued Cha Cha the dog. But Newark, the largest city in New Jersey is still an up and coming, increasingly gentrified city.

More than just an airport, Newark's proximity to Manhattan, core of corporate headquarters like Prudential and Panasonic and gorgeous waterfront parks, have kept rents high, with a studio renting for an average of $1,362, up 18.7 percent from a year ago.

8. Colorado Springs, CO

It's probably no surprise that Colorado Springs, at the base of Pikes Peak and close to some of America's top winter sports facilities, is not a cheap town in which to live. Additionally, two dozen U.S. Olympic federations, as well as the U.S. Olympic Committee are headquartered here.

All of those transient residents cause a scarcity of rental units, bringing the current cost of a studio apartment to an average of $915 per month a 19.5 percent increase over the previous year.

7. Louisville, KY

America's southern jewel cities are having a renaissance. Communities like Louisville are finding themselves suddenly hip and unexpectedly cool, with new restaurants, music venues and craft beer bars catering to a new South generation.

Louisville's high-class reputation borne of mint juleps and thoroughbreds has only increased with its newfound trendiness, leading to a steep increase in rents, with studio rates rising 19.9 percent to an average of $829.

6. Fort Worth, TX

Long sitting in the shadows of its behemoth Metroplex neighbor to the east, Fort Worth is finally being considered a worthy competitor to Dallas' dominance. Born in the Old West as a commercial cattle drive stop along the famous Chisolm Trail, Fort Worth continues the tradition today with cattle drives down Exchange Avenue twice a day, every day.

As the cost of living and the population age rise in Dallas, longhorn steers aren't the only mammal migrating west. Fort Worth has become the beneficiary of local relocation, producing an increase in rental rates, with an average studio running $1,157, up 24 percent year to year.

5. San Antonio, TX

Did you know that San Antonio is the seventh-most populous city in the nation? If you didn't, you're not alone. Very few people think of SATX as a bustling metropolis, because it really isn't. While the city proper, Alamo and all, contains a million and a half residents, the surrounding eight counties have under a million combined.

That large urban/suburban gap funnels most people into the city as the population grows, keeping rents climbing, with an average studio apartment listing for $1,004, a 25.9 percent rise over 12 months.

4. Jacksonville, FL

Jacksonville is the largest city in the United States. No, for real. At 750,000 square miles, Jacksonville is indeed the biggest city in the continental U.S. by area. But with only just under 900,000 residents, there's a lot of room to be had. With a rich history of native musicians from Ray Charles to Lynyrd Skynyrd to Mase, Jacksonville has long been a jewel of the South.

But as populations, rents have also seen an uptick, with an average for a studio apartment coming in at $851 a month, an increase of 26.41 percent from a year ago.

3. Anchorage, AK

Of all the cities in America where rent is increasing, Anchorage may not be top of mind. But aside from its unique location 370 miles from the Arctic Circle, Anchorage is a normal, thriving, modern city of 300,000 people. Equidistant from New York, Frankfurt and Tokyo, Anchorage is actually quite a convenient city by air.

But be aware, as more people consider the last frontier, rents are on the move with an average studio up 26.8 percent to a very continental $967 per month.

2. Saint Petersburg, FL

Nearly every metro area in Florida is on the list of fastest-growing cities in America, so it's no surprise that rental demand and rental prices have been surging. Saint Petersburg's central location within the Tampa Bay region and its proximity to Clearwater and the best of the western beaches have been a beacon to newcomers.

Snowbird Northerners eschewing Miami-Dade for the younger Gulf shores, as well as an influx of resettlers from the likes of Houston and Puerto Rico have helped drive up lease rates, with a studio rental up a sharp 37.2 percent to an average of $1,274.

1. Arlington, TX

Lost literally in the middle of the DFW Metroplex between Big D and Fort Worth, Arlington, with a whopping 40.6 percent increase, had the steepest year-to-year rise in studio rental prices in the nation.

Despite being wedged between two of the biggest cities in the U.S., Arlington has its own personality, much of it as the home of the Dallas Cowboys, Texas Rangers and Dallas Wings of the WNBA and site of Six Flags over Texas, the original Six Flags. Studio apartments in this sports and amusement town rent for an average of $877.

The 10 American cities where studio rent is decreasing the most

These are cities where rent for studio apartments dropped by the largest percentage in 2018.

10. Portland, OR

Just as the TV show Portlandia is coming to an end, rents in Portland are dropping at a significant clip. Has the “Hipster Migration" reached its peak? The city (and the Voodoo Donuts) remain as amazing as ever, so grab your mustache and recumbent bike because studio rents are down a tidy 2.9 percent to an average of $1,311.

9. Saint Louis, MO

“Flyover country" gets a bad rap, but the more people who put the Midwest down, the better it gets for renters. The Gateway City is one of America's great metropolises, especially for sports fans and spare rib lovers.

Saint Louis rents are affordable for a city its size, with the average studio running $927, down 2.9 percent from a year ago.

8. New Orleans, LA

One of the most wonderful and fascinating cities in the nation, you may be surprised to read New Orleans has one of the country's biggest decreases in rent for studio apartments.

Population rise in the city has finally started to slow down for the first time since Hurricane Katrina, so rents are following suit. At just $1,102 a month for a studio on average, that marks a 3.8 percent decrease year to year.

Related: Rent for one-bedroom apartments in New Orleans is decreasing more than anywhere else in the country

7. Madison, WI

There's nothing in America like a college town in the Midwest, except maybe a state capital town in the Midwest. Well, Madison is the perfect combination of both.

A beautiful town, especially in the winter and just three hours from Chicago, Madison saw a decrease of 4.9 percent in rents for studio apartments to an average price of $990. Great news for students at the University of Wisconsin looking for off-campus housing.

6. Detroit, MI

Sometimes reputation isn't everything. Detroit has had some rough years, that can't be denied. But in the last decade, it's quietly become one of the most culturally resurgent cities in America, filled with art and music and new restaurants.

The good news is its huge population decline is finally starting to plateau. The better news is rents are still falling, currently at a very affordable $819 for a studio apartment, a drop of 5 percent from the previous year.

5. Baton Rouge, LA

While New Orleans gets all the press and attention, Louisiana's state capital of Baton Rouge is quietly sitting under the radar. Baton Rouge has its own amazing Mardi Gras celebration, its own wonderful Cajun and Creole cuisine and its own incredible music scene. But it also has smaller crowds, a lower crime rate and a gigantic university in Louisiana State with a championship football team.

Rents in this state capital town for a studio apartment stand at just $761, marking a 5.5 percent drop in a year.

4. Aurora, CO

Aurora may not be at top of mind as a population hub, but Denver's largest suburb was actually the nation's fastest-growing city during the late 1970s and early 1980s.

Bigger in area than its more well-known neighbor to the west, Aurora has been increasing residential development on the large tracts of unutilized prairie, which has lowered rental rates, including a 5.8 percent reduction for studio apartments from last year to an average of $1,069.

3. Honolulu, HI

Good news! You can finally tell your significant other it's time to move to Hawaii. OK, so rental rates are still pretty high in Honolulu – a studio apartment coming in at a hefty $1,850 – but that's a fall of 8 percent year to year.

So, quit the job and start packing your bags for Waikiki because you'll want to get in on this boon for renters. I'm sure your boss will understand.

2. Henderson, NV

Do you know what the second biggest city in Nevada is? Not Reno. It's Henderson, Las Vegas' largest suburb. The city, which grew up on America's need for its giant magnesium deposits during World War II, has seen a population rise more than sevenfold since its founding in 1953.

With Las Vegas/Henderson being the sixth fastest-growing Metropolitan Area in the U.S., you'd expect population demand to increase rent prices. However, a lease on a studio apartment is down to $1,034 a month, a precipitous skid of 10.6 percent in the last year.

1. Corpus Christi, TX

The Texas coastal city of Corpus Christi is about equidistant from Houston, San Antonio and the Mexican border. But it's not really near anything, which makes it a unique, quaint city known mostly for its beaches, pristine Padre Island National Seashore and a laidback Gulf lifestyle.

Everything is bigger in Texas, but not the current rents in Corpus, with an average studio listed at just $824 – a whopping 15.9 percent plunge over last year.

The full list

Curious how the other cities in the top 100 fare for studio rents in 2018? Here's the full list of the hundred largest cities in the U.S. sorted by biggest year-to-year increases in average studio apartment rent.

Rank	City, State	Annual Studio Rent Price Change
1	Arlington, TX	40.6%
2	Saint Petersburg, FL	37.2%
3	Anchorage, AK	26.8%
4	Jacksonville, FL	26.4%
5	San Antonio, TX	25.9%
6	Fort Worth, TX	24.0%
7	Louisville, KY	19.9%
8	Colorado Springs, CO	19.5%
9	Newark, NJ	18.7%
10	Sacramento, CA	18.3%
11	Orlando, FL	17.8%
12	Lexington, KY	17.3%
13	Fresno, CA	15.9%
14	Glendale, AZ	15.9%
15	Hialeah, FL	15.1%
16	Las Vegas, NV	14.9%
17	Raleigh, NC	14.8%
18	Chula Vista, CA	13.6%
19	Milwaukee, WI	13.3%
20	Riverside, CA	12.8%
21	Wichita, KS	12.5%
22	Tucson, AZ	12.5%
23	Miami, FL	11.7%
24	Chandler, AZ	11.3%
25	Winston-Salem, NC	10.7%
26	Virginia Beach, VA	10.5%
27	Oklahoma City, OK	9.7%
28	Des Moines, IA	9.5%
29	Anaheim, CA	8.9%
30	Los Angeles, CA	8.2%
31	Norfolk, VA	7.8%
32	Minneapolis, MN	7.8%
33	Long Beach, CA	7.5%
34	Plano, TX	7.2%
35	Nashville, TN	7.2%
36	Tulsa, OK	6.8%
37	Toledo, OH	6.5%
38	Saint Paul, MN	6.5%
39	Omaha, NE	6.4%
40	Austin, TX	6.4%
41	Dallas, TX	6.1%
42	Pittsburgh, PA	6.1%
43	Boise, ID	6.0%
44	San Jose, CA	5.8%
45	New York, NY	5.8%
46	San Diego, CA	5.1%
47	Memphis, TN	4.7%
48	Irving, TX	4.5%
49	Philadelphia, PA	4.2%
50	Indianapolis, IN	4.0%
51	Boston, MA	3.8%
52	Fremont, CA	3.8%
53	Bakersfield, CA	3.8%
54	Buffalo, NY	3.7%
55	Cleveland, OH	3.7%
56	Fort Wayne, IN	3.5%
57	Tampa, FL	3.5%
58	San Francisco, CA	3.4%
59	Washington D.C.	3.4%
60	Houston, TX	3.4%
61	Garland, TX	3.4%
62	Seattle, WA	3.3%
63	Cincinnati, OH	3.3%
64	Chicago, IL	3.2%
65	Atlanta, GA	2.9%
66	El Paso, TX	2.9%
67	Baltimore, MD	2.6%
68	Phoenix, AZ	2.5%
69	Oakland, CA	2.3%
70	Irvine, CA	2.3%
71	Scottsdale, AZ	1.8%
72	Mesa, AZ	1.8%
73	Denver, CO	1.8%
74	Kansas City, MO	1.6%
75	Charlotte, NC	1.6%
76	Lincoln, NE	1.2%
77	Richmond, VA	1.1%
78	Albuquerque, NM	0.3%
79	Columbus, OH	0.3%
80	Greensboro, NC	0.1%
81	Reno, NV	-1.6%
82	Santa Ana, CA	-1.9%
83	Jersey City, NJ	-2.0%
84	Lubbock, TX	-2.2%
85	Durham, NC	-2.2%
86	Portland, OR	-2.9%
87	Saint Louis, MO	-2.9%
88	New Orleans, LA	-3.8%
89	Madison, WI	-4.9%
90	Detroit, MI	-5.0%
91	Baton Rouge, LA	-5.5%
92	Aurora, CO	-5.8%
93	Honolulu, HI	-8.0%
94	Henderson, NV	-10.6%
95	Corpus Christi, TX	-15.9%
96	North Las Vegas, NV	N/A
97	Gilbert, AZ	N/A
98	Stockton, CA	N/A
99	Laredo, TX	N/A
100	Chesapeake, VA	N/A

Methodology

Figures on annual average changes for studio apartments in the nation's 100 most populous cities were compiled using available multifamily rental property inventory from December 2017 to December 2018 on Apartment Guide and rent.com. Rental prices are based on available multifamily rental property inventory from January 2019.

The rent information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.

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