WFCN –
Our research has shown that three Texas communities have among of the country’s steepest rent drops, in stark contrast to the nationwide trend of skyrocketing rent rates. Any and all information is at our fingertips.
These cities in Texas have the three largest rent price drops in the United States.The national average for rent increased by 30.4% between 2019 and 2023, according to CBS News, and further inflation is anticipated in 2024. This outpaces salary growth significantly.
Most recently, researchers from Lawn Love looked at how much rent has been going up in major cities in the United States.
Over three dimensions, they compared 196 of the largest U.S. metros. Out of a total of nine indicators, Lawn Love considered average rent costs, rent variations from one year to the next, and the percentage of renters whose income is exhausted by utilities and rent.
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You can find their approach to find out how they ranked the cities.
In the United States, which cities have the highest rent?
- The Miami–Fort Lauderdale–Pompano Beach, Florida triangle
- Honolulu, Hawaii’s urban core
- Anaheim, Los Angeles, and Long Beach, California
- The Oxnard-Thousand Oaks-Ventura regions of California
- Manhattan, Newark, Jersey City, New York, New Jersey, Pennsylvania
Contrary to national trends, three Texas cities have witnessed the exact reverse. Actually, the average rent in these cities has recently dropped more than any other city in the United States
Three cities in Texas saw the biggest drop in average rent over the past year:
- The city of Georgetown
- Round Rock, Texas, USA
- Austin, TX