{"id":30266,"date":"2017-09-05T16:35:00","date_gmt":"2017-09-05T23:35:00","guid":{"rendered":"http:\/\/www.kentreporter.com\/news\/kent-apartment-rent-jumps-make-national-top-10-list\/"},"modified":"2017-09-05T16:36:29","modified_gmt":"2017-09-05T23:36:29","slug":"kent-apartment-rent-jumps-make-national-top-10-list","status":"publish","type":"post","link":"https:\/\/www.kentreporter.com\/news\/kent-apartment-rent-jumps-make-national-top-10-list\/","title":{"rendered":"Kent apartment rent jumps make national top 10 list"},"content":{"rendered":"

Kent cracked a top 10 nationwide list for the biggest hikes in apartment rents.<\/p>\n

Kent ranks sixth – just behind Seattle and Los Angeles – with the largest rent hikes over the past year. Kent rents jumped an average of $117 per month in August compared to the same month in 2016, according to the California-based apartment search website rentcafe.com<\/a>.<\/p>\n

Kent’s apartment rents averaged $1,411 per month in August, an increase of 7 percent from a year ago. The rankings are based on the dollar amount, not the percentage jump.<\/p>\n

After more than 12 months of constantly topping the rent growth charts, California is no longer home to the fastest-growing rents in the U.S.; Midland puts Texas ahead in the rent race, with Odessa claiming the No. 2 spot.<\/p>\n

Midland led the dollar amount jump at $208 followed by Odessa at $171 and Thousand Oaks, Calif., at $140. Seattle ranked fourth with an average rent jump of $137 and Los Angeles fifth at $136. The average monthly rents in Midland were $1,201. Seattle’s monthly rents were $2,004 and Los Angeles $2,282.<\/p>\n

A whopping 84 percent of the 250 biggest cities in the U.S. (209 in total) have experienced rent growth over the past year. Just 31 cities saw rents flat-line, while 10 cities had rent decreases.<\/p>\n

Manhattan’s rental market may be slowing down but the exclusive New York City borough still remains the most expensive place to rent in the country with average rents north of $4,000 per month.<\/p>\n

With apartment construction at a 20-year high, more units are hitting the market than ever before. This boost in supply is driving rents downward – or at least muting any further growth – in many parts of the nation.<\/p>\n

As such, rents essentially flat-lined for the month of August, with the average rent coming in at $1,352 – just $1 higher than July and only 2.4 percent over August 2016, according to Yardi Matrix. This marks the slowest annual growth rate in more than three years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kent cracked a top 10 nationwide list for the biggest hikes in apartment rents.<\/p>\n","protected":false},"author":106,"featured_media":30267,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,4],"tags":[],"yst_prominent_words":[],"class_list":["post-30266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-news"],"_links":{"self":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/30266"}],"collection":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/comments?post=30266"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/30266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media\/30267"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=30266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=30266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=30266"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=30266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}