Rents across the United States increased last month on an annual basis, with Cincinnati, Baltimore, and Washington, D.C., housing markets seeing significant gains, according to real estate brokerage Redfin.
“The median U.S. asking rent rose 0.4 percent year-over-year to $1,607 in February—the first increase in six months and the biggest in nine months,” the company said in a March 7 statement. “On a month-over-month basis, asking rents climbed 0.6 percent.”
Rental price changes differed in terms of apartment sizes. For smaller apartments with 0 to 1 bedrooms, rents rose on an annual basis. Gains were also seen in two-bedroom apartments. However, for apartments with more than three bedrooms, rental prices registered a decline….