Report: Little Rock renters see nearly 10% growth in 2021

Local News

FILE – This March 16, 2015 photo shows a “now leasing” sign outside an apartment complex near Millville, N.J. U.S. home rents jumped in July as house prices showed signs of flagging. Real estate data firm Zillow said Tuesday, Aug. 25, 2015 that rents rose a seasonally adjusted 4.2 percent from a year ago. The higher rents suggest that demand for apartments is continuing to grow as the share of Americans owning homes has dropped. (Photo/Mel Evans)

LITTLE ROCK, Ark. – The cost of living has increased over the years and according to a rent report, rent in Little Rock has grown nearly 10% in 2021.

According to a report from ApartmentList.com, the year-over-year rent growth in Little Rock currently stands at 7.6%, which is more than a 2% growth since this time last year.

The pandemic has affected many Arkansans and data from the report shows that rent in the metro city increased by 12.7% since the start of the pandemic in March 2020.

Data from the reports show that the median rent in Little Rock is $787 for a one-bedroom apartment and $936 for a two-bedroom. If you are looking at the cost per room, that would be nearly $150 for an additional bedroom.

To look at a broader aspect of the report, data shows that rent prices fell nationally by 0.2% last month, which is the first measurable price decline since 2020. This decrease comes after rent growth of nearly 18% in less than a year.

Nationally, the report shows that rent prices fell in 61 of the 100 largest cities in January. Riverside, California saw the nation’s steepest rent decline as it dropped by 3.1%, according to the data collected.

To view the analysis of the newest monthly data, check out the January Rent Report at ApartmentList.com.

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