Rents are going up, but the prices are rising again, and a new study says you can save up to 10 percent.
So, if you’re looking to buy the next furniture piece for your house, here’s everything you need.
Rent and occupancy rates in 2017 have remained flat in most major cities and states, with just one exception: Los Angeles, home to the country’s most expensive real estate market.
But a growing number of big cities and suburbs are starting to see occupancy rates rebound, according to the Urban Land Institute.
Here’s what you need know about what is in demand and what you might be able to save up.
Rents are at historic lows, and some cities are seeing rent increases of as much as 50 percent, according the Urban Institute.
Rent in New York City increased 8.3 percent in May, according a new report from the Institute.
The average rent in Manhattan increased 9.7 percent last year, while in San Francisco, it jumped 7.8 percent.
In Los Angeles and Washington, D.C., rent was up 9.2 percent and 6.3, respectively.
In New York, you can rent for $1,500 a month or more.
Rent increases have been the norm, with rents in many of the city’s pricier neighborhoods hitting their highest levels in more than a decade.
But rents are also rising in other parts of the country, including Philadelphia and Boston, where rents are up 6.5 percent and 4.9 percent, respectively, according Tojo & Co., a real estate research firm.
In Philadelphia, rents jumped 7 percent in the past year, and in Boston, rents increased 2.3 and 1.8 percentage points.
In New York’s Long Island City, rents are rising more than 30 percent over the past two years.
The National Association of Realtors reported that rent prices have been declining in the Bay Area, Los Angeles County, the Northeast and in cities throughout the country.
Rental rates in major cities are trending upward in recent years.
In May, the average rental for a two-bedroom apartment in New Orleans rose to $1.3 million, up from $1 million a year earlier, according The Associated Press.
But rent prices in Seattle, Boston and Chicago fell in May to $900,000 and $800,000, respectively — two years earlier, rent was at $1 and $1 billion.
In other cities, such as New York and Los Angeles that saw rents rise, it’s hard to tell if rent prices are going back up or if they’re heading back down.
In Chicago, rents dropped 8.4 percent in April from a year ago, according Realtor.com.
And rents in the city of Boston, which was hit hard by the recent flooding, dropped 7.2 and 6 percent, the most in May since 2008.
In Boston, it was tough to find a place to rent last May, when the city saw a total of 15,932 new rental listings, down from 16,939 in April, according REaltor, which said rents in Boston are at their lowest level since 2006.
The city is also seeing a surge in apartment listings that have opened since the flooding.
The rental market in the Midwest, however, is showing some signs of life.
Rent prices have risen in many cities including Cleveland, Cincinnati, Detroit, Minneapolis, Pittsburgh, St. Louis and Milwaukee, according Rent.com, a website that tracks rents.
The median price for a one-bedroom rental in Cleveland in June was $1.,973, according Lando.
The average price for an apartment there in May was $2,095, according Nolo.
Rents in Milwaukee were up 3.5 percentage points in May compared with a year before, to $2.4 million.
Rent is up 2.6 percentage points over the last year.
In St. Paul, rents in April were up 1.4 percentage points to $3,907 a month, according Rental.com and the median price is up 5.5% over the same period a year prior.
In Minneapolis, the median rent was $3.2 million in April.
In Milwaukee, rents rose 5.4% in May from a decade ago, while the median one-bed rental price in the City of Brookfield in May rose 2.5%, according to Rental, and is up 15.6% over a year previously.
In Denver, rents fell 1.3 percentage points last year to $4,056 a month in May.
The national average is $4.5 million.
In Portland, rents climbed 3.8% in April to $5,842 a month.
Rental prices in Portland, Oregon, have increased 2,6% in the last five years.
In Austin, rents decreased 2.8%, to $7,076, a month last year in April after falling 6.4%, according RentHub.