18 Mar Wichita remains the most affordable top-100 city in the U.S., according to Apartment List – Wichita Business Journal
Wichita remains an affordable place to rent an apartment.
That’s according to a monthly report released by Apartment List, a website that aggregates national apartment listings.
The average monthly rent for a two-bedroom apartment in the city is about $750 while a one-bedroom fetches on average about $560 per month, the March report said. That represents a slight increase of 0.6 percent from the same month in 2017.
From January to February, the average price for a two-bedroom jumped by 0.3 percent, the report said. The national average — from a list of the 100 most-populated cities in the U.S. — for a two-bedroom apartment is about $1,160 per month.
Wichita’s year-over-year rent growth lags the state average of 1.6 percent and the national average of 2.3 percent. Of the largest 10 cities that Apartment List tracks in Kansas, six saw rents rise year-over-year.
The most expensive city to rent a two-bedroom apartment, according to the release, is San Francisco ($3,040) while the most affordable city for a two-bedroom continues to be Wichita.
"Wichita’s growth rate is well below both the national average and the Kansas state average," says Apartment List housing economist Chris Salviati. "The median two-bedroom rent in Wichita is quite affordable compared to many of the nation’s large and mid-sized cities."
Oklahoma City experienced the largest dip in rents over the past year with a 2.1 percent drop.