Rents are falling the fastest in these 11 cities – Finance

Rent becomes cheaper for people living in the largest urban areas of the United States.

In September, rent decreased on an annual basis in more than half of the country's 35 largest markets, for the first time in six years, according to Zillow. Portland, Oregon and Seattle, Washington saw the largest drops of 2.7% and 2.2%, respectively.

“For tenants, slower rent growth is welcome news and will bring more money into their already stretched pockets”, The chief economist of Zillow, Aaron Terrazas, said.

He added: "The rent remains high by historical standards, but a modest annual decline in rent in September should alleviate some of the pressure that drives higher-income tenants to buy."

Tsillow's conclusion is based on Zillow Rental Indexwhich tracks the monthly average rent in specific geographic regions based on an agreed inventory.

The following list, based on the Zillow rental index, highlights 11 cities in America, where rents fell the fastest in September, from the minimum to the maximum.

San Antonio, TX

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San Antonio, TX

(Sean Pavon / Shutterstok)

September change of profitability: -1.1%

September Zillow Rental Index: $ 1330

Source: Zillow

Indianapolis Indiana


Indianapolis Indiana
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Indianapolis Indiana

(Flickr / Serge Crayons)

September change of profitability: -1.2%

September Zillow Rental Index: $ 1195

Source: Zillow

St. Louis, MO


St. Louis, MO
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St. Louis, MO

(Stephen Liveoak / Shutterstock)

September change of profitability: -1.2%

September Zillow Rental Index: $ 1139

Source: Zillow

Kansas City, MO


Kansas City, MO
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Kansas City, MO

(Scruggelgreen / Shatterstok)

September change of profitability: -1.4%

September Zillow Rental Index: $ 1264

Source: Zillow

Austin TX


View of 6th Street in Austin during the south at the southwest festival.
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View of 6th Street in Austin during the south at the southwest festival.

(Flickr / deneyterrio)

September change of profitability: -1.6%

September Zillow Rental Index: $ 1683

Source: Zillow

Boston, Massachusetts


Boston, Massachusetts
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Boston, Massachusetts

(F11photo / Shutterstok)

September change of profitability: -1.6%

September Zillow Rental Index: $ 2367

Source: Zillow

Philadelphia, PA


Philadelphia, PA
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Philadelphia, PA

(Shatterstki)

September change of profitability: -1.7%

September Zillow Rental Index: $ 1566

Source: Zillow

Chicago, IL


Chicago, IL
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Chicago, IL

(Nicholas Henderson / Flickr)

September change of profitability: -1.9%

September Zillow Rental Index: $ 1635

Source: Zillow

New York, New York


New York, New York
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New York, New York

(Stig Ottesen / Unsplash)

September change of profitability: -1.9%

September Zillow Rental Index: $ 2,370

Source: Zillow

Seattle, WA


Seattle, WA
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Seattle, WA

(Sorin Colac / Shutterstock)

September change of profitability: -2.2%

September Zillow Rental Index: $ 2169

Source: Zillow

Portland, Oregon


Portland, Oregon
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Portland, Oregon

(Facebook / Travel Portland)

September change of profitability: -2.7%

September Zillow Rental Index: $ 1833

Source: Zillow

SEE ALSO:


SEE ALSO:
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SEE ALSO:

(Alex Wong / Getty Images)

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