The South is growing in more ways than one.
It’s no mystery that inflation is causing increases in everything from milk to your rent. Three Southern cities were among cities with the highest increases in rents compared to last year.
Nationwide, the cost of a one-bedroom apartment is 19% more expensive than it was in November 2020, according to a report from apartmentguide.com.
The cost of a one-bedroom apartment in Birmingham, Alabama; Orlando, Florida and St. Petersburg, Florida increased by more than 46 percent in the last 12 months.
Five Southern cities were among those with the highest increase in the cost of a two-bedroom apartment. Those cities include Jacksonville, Florida; Orlando, Florida; St. Petersburg, Florida; Arlington, Texas and Garland, Texas. Rents increased by more than 39 percent in the last 12 months.
St. Petersburg and Orlando were the only two cities among the cities with the highest increase in the cost of both one and two-bedroom apartments.
Here’s the breakdown
- Gilbert, AZ (+93.1 percent)
- Long Beach, CA (+64.4 percent)
- Riverside, CA (+56.1 percent)
- Orlando, FL (+55.5 percent)
- Birmingham, AL (+53.1 percent)
- Saint Petersburg, FL (+46.3 percent)
- Huntington Beach, CA (+39.6 percent)
- Boise, ID (+39.1 percent)
- Scottsdale, AZ (+38.8 percent)
- Irvine, CA (+36.2 percent)
- Orlando, FL (+55.9 percent)
- Saint Petersburg, FL (+47.6 percent)
- Jacksonville, FL (+44.2 percent)
- Arlington, TX (+41.6 percent)
- Tucson, AZ (+39.2 percent)
- Garland, TX (+37.9 percent)
- Reno, NV (+36.5 percent)
- Fort Wayne, IN (+35.6 percent)
- New York, NY (+35.1 percent)
- Albuquerque, NM (+33.5 percent)
All states have seen increases in one-bedroom apartments year-over-year. The cost of two-bedroom rents have risen in all states except South Dakota.