COLUMBUS, Ohio (WCMH) – According to a report by Rentometer, a tool that collects data throughout the U.S. for property analysis and rent estimates, Columbus rent had the highest increase in the Midwest this past year.
From April 1 to June 30, Rentometer collected prices for three-bedroom apartments across five cities per region for April through June 2022.
The report found Columbus rent rose from $1,327 in 2021 to $1,681 in 2022, a 27% increase. The change marks the highest increase when compared to four other Midwest cities: Cincinnati, Milwaukee, Indianapolis and Kansas City.
Cincinnati had a 20% increase from $1,429 in 2021 to $1,719 in 2022. Milwaukee ranked third with a 16% increase, Indianapolis fourth with 13% increase and Kansas City fifth with a 9% increase.
Nationally, 90% of sample cities experienced year-over-year rent increases. In addition, 80% of sample cities experienced year-over-year rent increases more than 10%.
In the Northeast, Buffalo had the largest increase at 50% from $1,177 to $1,760. In the Pacific, San Diego had the largest at 21% from $3,553 to $4,315. In the Rocky Mountains, Boise had the largest at 18% from $1,968 to $2,314.
In the Southeast, Orlando had the largest at 34% from $1,715 to $2,293. In the Southwest, San Antonio had the largest at 30% from $1,419 to $1,846.