Providence lease second fastest growing in U.S.


AN AVERAGE ONE-BEDROOM apartment or condo in Providence now costs $1,780 each month, the second-fastest increase month to month in July in the U.S., according to a report launched July 26 by Zumper National Lease./ PBN FILE IMAGE

PROVIDENCE– A typical one-bedroom apartment or condo in the city now costs $1,780 each month, the second-fastest increase month to month in July in the U.S., according to a report by Zumper National Lease launched July 26.

The research study aggregated information from more than 1 million active listings to determine average asking leas for the leading 100 cities by population and almost 300 extra cities within significant city locations. Information consisted of more listings than many other rental sites and is sourced through a mix of exclusive listings published by property owners and brokers through Zumper’s Proprietor Platform and third-party listings gotten from its service providers.

Information revealed leas in Providence increased by 6% month to month in July and by 18.7% year over year in July. Greensboro, N.C., was the city with the fastest-growing lease. Although the typical lease there is $1,060 each month, July leas increased by 6% month to month and by 30.9% year over year.

In General, Providence was ranked No. 18 out of the leading 100. New York City City was ranked as the city with the most pricey lease in the U.S. Typical lease there was an all-time high of $3,780 each month, a 5% increase month to month and a 41% boost year over year.

San Francisco, which moved more detailed to pre-pandemic lease levels, was ranked No. 2 in the U.S. Typical lease there was $3,100 each month, a 3.3% increase month to month and a 14% boost year over year. San Jose, Calif., was ranked 3rd greatest at $2,710 each month, a 5.4% increase month to month and a 24.9% boost year over year.

Boston was ranked the 4th most pricey in the country. Typical lease because city was $2,600 each month in July, a 4% increase month to month and a 13% increase year over year.

Of the 100 cities surveyed, Akron, Ohio, was the least pricey. Leas there balanced $640 each month in July, without any modification month to month or year over year.

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