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Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Springfield placed No. 7 on a ranking of the largest average monthly changes in apartment rent during 2019.
Springfield’s rent rose by 2.15% to an average of $648 per month for a one-bedroom apartment, according to research from Abodo, which tracks apartments available for rent across the country.
On the list, Springfield still had the second-lowest average monthly rent, below No. 6 Rochester, New York, at $601. The biggest change on the list was recorded by Detroit, Michigan, at 7.48%, followed by Cleveland, Ohio, at 3.85%. No other Missouri cities made the top 10.
Abodo research indicates St. Louis posted a 1.4% average monthly change in one-bedroom apartment rent to $883. Columbia was up 1% to $605 per month, and Kansas City decreased by 0.17% to $1,005 per month.
The Abodo report cited a strong economy for rising rent at apartments nationwide, as well as rising inflation and strong demand from baby boomers and millennials.
Most states in the country, including Missouri, experienced rising apartment rent costs last year, according to the report.
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